How does an Estate Sale differ from a garage or yard sale?
An estate sale is held for the purpose of liquidating all the personal property and contents of one household. It may include fine antiques and collectibles or everyday household items. The sale is usually held to settle an estate and often to clean out a house before it is sold.
There are many reasons for deciding to have an estate sale:
- A loved one has passed away.
- A close relative or acquaintance has relocated to a retirement community or an assisted living facility.
- There is a need to downsize to a smaller home or apartment. (Many baby-boomers or their parents are deciding to move to single floor residences)
- A lifelong collector needs to downsize their belongings and private collections.
Because estate sales are often held on behalf of others and the income from the sale is to settle an estate, usually only items from that household are included, and they are often held in the home where the owner lived. Once the owner decides what they need to keep, all items in the household would be sold.
It is important NOT to throw away items if you are having an estate sale. Since the goal is to realize the best possible value for the items and not just to get rid of them, the items should be reviewed by the Estate Specialist (Certified Appraiser) to assess the proper value of all items.
PROPER PLANNING= THE BEST OUTCOME
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