Common Ways to Empty out an Estate
Emptying out an estate can be an emotional and time intensive process. While there is no one simple answer on how best to empty out an estate, below are a few popular options. In this post, let us take a look at the most common ways employed for clearing out an estate, and discuss whether each method is suited to your needs.
Of course, if you want an easy way to empty out an estate, using junk haulers is one of the most convenient methods to get things done. But remember, these junk haulers treat everything in your estate as junk. They primarily provide removal services, and have no experience with handling and valuating items. What this means is that you should not expect much money to materialize from cleaning out your estate using this method.
Even when a junk removal company assures you that they have experience with valuating items, it is critical to check their background and reviews. The last thing you want is for an inexperienced junk hauler to throw out a precious Qing Dynasty vase that your late-grandfather had preserved for years.
Using Junk Haulers
In order to consign items for sale with an antique store or another shop you first must bring the items in, then negotiate a commission rate and price the items (or trust the shop to price the items for you), and then you wait. While the primary steps will take a significant time investment on their own, waiting can be an endless task. Unfortunately, it is almost impossible to anticipate which items buyers will be interested in and some things may simply never sell. Here are some examples of Antiques and Collectibles we buy so you can get an idea.
Alternatively, selling an estate outright can happen in as little as just a few days. All you need to do is make an appointment with an interested estate buyer, have them come to view your items, and then negotiate a price with them. After that, they will whisk your pieces away and leave you with money. This can even happen in under a week and you won’t have to worry about how long it takes for a customer to pay for your item.
Holding an Estate Sale
If you have spotted valuable items in an estate, holding an estate sale is one of the best ways to sell those items for cash. But unless you are hiring a professional estate sales agency to handle the procedure for you, it is more likely that you will hold something more similar to a yard sale if you go the DIY route. Holding an estate sale on your own can lead to under or overvaluing items that you are looking to sell and not getting the necessary foot traffic to move all of your antiques. It is also important to note that most estate sale companies will only render their services if they estimate the worth of the estate to be over $10,000.
Are estate sales an easy way to empty out an estate? Perhaps. But are they the most profitable way to clean out an estate? Unlikely. This is because you will have to pay a fee to the estate sale company for handling the estate sale for you, which usually ranges between 20% to 40% of your total sales.
Selling to Estate Buyers
If you are looking for the most profitable, yet easy way to empty out an estate, this has got to be it. Professional estate buyers have years of experience with appraisal and understand the process of liquidating personal property. From furniture to antiques to vintage toys to clothing, estate buyers will be able to go through estate items and give you reasonable monetary compensation for what they buy. You won’t need to hope for luck like in the case of an estate sale or lose out financially in the case of hiring junk haulers.
However, although estate buyers do have a list of items they look to buy, some of them can take everything off your hands. It’s the best way to get quick money from emptying out an estate, and you don’t have to go through the hassle of calling in a removal service after the estate buyers have picked out the valuable items to buy.
If you are looking to empty (and clean) out an estate, call Showplace Estate Buyers and see what we have to say!