What Is The Purpose Of Having An Estate Sale?
The Purpose of an Estate Sale is to manage assets after an unusually sudden or irreversible change in the life of the person or persons who own such assets. Estate sales are a great way to sell many items that are no longer desired or were left behind by the passing of a family member. The point of an Estate sale is to sell items at great prices in a short amount of time. During times of transition, like downsizing your home or the passing of a loved one, it is important to maximize the value of what you have, but also important to make the transition as smooth and quick as possible. The purpose of an Estate Sale is to easily and swiftly sell items, often within the comfort and ease of one’s home, so that you can move forward following a major transition in your life.
Estate Sale Purpose: Typical Reasons
Death in the family
- The most frequent reason a family seeks an estate sale is to sell personal property is when a family member passes away. Sometimes, it’s the choice of a person when having their wills or trust documents drawn up. They’d rather not have their children fight over single items or collections. They are aware that equity is better maintained via equal cash disbursements.
Retirement and/or Downsizing
- At retirement, or when relocating many new decisions get made about lifestyle. Different living situations create different needs, and an estate sale is a perfect way to get rid of the old and bring in the new.
Directed by will or trust documents
- Distributing the personal property as directed by the will or trust document is an area that requires the diplomacy of an experienced professional since surviving family members often have strong emotional attachments to items of sentimental value.
- Moving due to employment can cause sudden unloading of possessions due to a desire to start over or travel light.
- Hosting an estate sale is also a very practical way for couples facing divorce or bankruptcy to generate much-needed cash, and end some of the bickering that happens when two people are facing this sort of challenge.
The Purpose: How an Estate Sale Works
The estate sale organizer separates items into categories and appraises them based on their market value. Then, a few days before the sale, the organizer places price tags on each item. On the estate sale day, the organizer takes a final walk through the home before opening the doors to buyers.
Buyers are allowed in on a first-come, first-served basis. Some estate liquidators use a number system, with buyers receiving numbers that match their place in line. Other estate sale organizers draw random numbers to determine which buyers enter the home first. Throughout the sale, shoppers are allowed to walk freely about the home and pay for their purchases on their way out of the home.
During the estate sale, the organization running the Estate Sale ensures the sale goes smoothly by managing the traffic flow and resolving pricing issues.
Find Help for your Estate Sale
Heritage Estate Settlement has been servicing the Wisconsin community for the last 20 years, and we have expanded our operation from the Midwest region to the entire United States. Heritage Estate Settlement is a family-owned business located in Menomonee Falls. Since we are a private enterprise, our door is always open to you and your family. We make a 100% commitment to all of the families we serve, which means we are available 24-hours per day, 365 days per year.
Heritage Estate Settlement is a complete, single-solution estate liquidation company. We offer cash payment for your entire estate or single item or small collection. All pieces and collections will be considered – no estate is too large or too small. Additionally, we offer all of the traditional options that an Estate Sale or Auction company provides, including on-site and off-site estate sales/auctions.
If you require a helping hand and need help moving your items or clearing clutter we are more than happy to help. Don’t make the mistake of paying someone to remove items from your estate or to clean out your home – there is value in what you have! We are extremely efficient at identifying antiques and collectibles and assigning values. Contact us so we can help you navigate the complex world of estate sales and estate liquidation, and provide you with the maximum return.