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The Process of Estate Liquidation

An Introduction to The Estate Sale Process

I consider myself lucky to have such a fantastic job! It’s truly rewarding to help people with the burden of unwanted or unneeded items, and bringing happiness to others who appreciate the value of the items they are purchasing. In my experience people thank you and are grateful for the hard work you have put in to making a sale the best experience possible for the sellers and buyers. It’s win-win, and I absolutely love it.

Overseeing unique and rare valuables is something that garners attention, and we’re lucky to have had the opportunity to improve our skill and develop a successful business over the years. With one of the best reputation as liquidators in Texas, we have plenty of business, which has taught us a lot about estate sales. This includes immense respect for our clients, and lasting relationships with both sellers and buyers.  We love making people happy and it shows in our work.

Let’s begin with a walk-through of the estate liquidation process for potential clients. It is our hope that these guidelines will serve to put you at ease about a process that for many can cause a high level of stress, particularly for grieving families. We will take care of everything so you can concentrate on what matters most.

Property Asset Assessment

We begin by sending our team to your residence for a walk-through. After a complete review of the premises we will determine how to proceed. In the event that the contents of your home are insufficient to warrant an estate sale, we can offer a choice of local charity organizations that will respectfully offer your items to needy families.

Initiating the Liquidation

If we determine that the estate sale can go forward, we will discuss terms and provide the contract. Be prepared and don’t be afraid to interview our company. We are happy to inform and educate potential clients so they have all they need to confidently proceed. After we agree on terms, the contract is signed and the liquidation can begin.

Sorting, Inventory and Prep

Approximately ten days after the contract is signed, we request a house key and access at agreed-upon hours. We will then begin to inventory every item to be sold. This includes research, photographing and marketing all items to be sold.

After inventory (usually within a few days) to advertise the sale, we will distribute flyers in the local area and send an invitation via email to our loyal clients. Four days before the presale we will notify potential buyers of any updates in merchandise we may have found during the week.

Operational Costs

Any costs incurred during the preparation will be covered by us, and reimbursed from the sale proceeds. This includes all mailing and other notification efforts, crew food, labor and clean-up costs. The remaining net amount of sale will then be distributed between the estate owner and our company.

Creating the Sale

Pricing, display and Setup- We provide display cases, chairs, tables and outdoor protection such as tents or awnings, and then begin pricing key items for the presale and sale. Depending on the amount of inventory, sales run from 9:00 AM, noon or 4:00 PM Thursday until late afternoon or early evening.

Presale

The presale is a special sale exclusively for close friends and/or relatives of your choice, which begins before the publicly advertised sale. Public sales start at 9:00 AM on Friday, then again from 9:09 AM to about 4:00 PM on Saturday, with all items 50% off. Items remaining after 4:00 PM are given away. This assures that items don’t clutter landfills and allows any charities an opportunity to offer items for the less fortunate.

The Sale

We respectfully request that after our crew has set up the sale to look its best, nothing be removed apart from personal items designated by the family, including money, jewelry or any important family heirlooms. Accidentally selling valuables that are impossible to replace is a tragedy we want to avoid at all costs. Our goal is to make everyone involved happy.

Paying Attention to the Details

We request a Wednesday night walk-through by the family to assure we haven’t missed anything. We also request that every item advertised prior to the sale remain in the house. Furthermore, the contact number you provide is essential, should we have any questions about anything at all during the sale. That way if any questionable items arise we can contact you to assure that they are indeed for sale. 

Financial Outcome

A typical sale will generate gross proceeds of 50-70% of the total from the first day sale, 20-30% from the second day, and 5-20% from the third. (Depending on inventory, the client-preferred sale may last as long as noon to 8:00 or 9:00 PM). The end of the Saturday sale is reserved for 50% off with a free giveaway at day’s end (if you choose not to keep the remaining unsold items).

All sales recorded are compiled and presented as purchases rather than individual items. The reason we do it this way is because the sheer volume and variety of items precludes the ability to record each item individually. Thus, if someone purchases a sofa along with several small items like plates, two pots, a broach and a few towels, the record will reflect, “Sofa, etc.: $330.” This makes it easier to record every sale among the thousands of items at a typical estate sale. In accordance with our contract, payment will be received anywhere from a few days to two weeks, when we will provide you with paperwork detailing any and all sales for your review.

One-Day Estate Sales

Some smaller estates only feature enough items for a one-day sale. These sales are discounted mid-day, with box-lot pricing in the last hour and free items at day’s end.

Clean-up

The clean-up begins Saturday afternoon and continues until finished – usually Sunday. We can also clean the entire premises, including yard and garage, at your request. As previously noted, clean-up costs are applied against the net results of the sale.

Ending on a Positive Note

We have three key goals for a positive and smooth estate sale.

  1. Respect for the memory of the deceased and a painless, stress-less sales environment for everyone involved.
  2. Offer the fairest prices possible for our clients while retaining respect for the value of each and every item.
  3. Throw as little away as possible. We want to keep things out of the landfill and offer any unwanted items to those in our society who are less fortunate.

We go to great lengths to make sure everyone is pleased with the outcome, safe in the knowledge that we are maintaining a perfect track record that makes both us and our clients proud.

Please call 281-630-3361 today and talk with an estate liquidation expert.