What’s an Estate Sale? the practical definition of estate sales
An estate sale may also be known as an estate liquidation. This is a type of sale that might be carried out as a liquidation sale, in order to dispose of a large amount of items. These items were either owned by a person who has recently passed away, or by a person who must get rid of a large amount of personal property in order to move.
When a person passes away, it is very common that the surviving family members do not want or need a vast majority of items. These family members may choose out a few personal items that hold sentimental value to them, but this usually does not include an entire house filled with furniture, antiques, clothing, and basic necessary items. An estate sale is the simple solution to the problem of what to do with all of those items that no one seems to want or need, by allowing it to be bought by those who could make good use of it.
Other examples of why an estate sale may occur includes when the property owner may be making a move where he or she is unable to keep their personal belongings. Examples include moves to assisted living facilities, retirement communities, rest homes, and sometimes even military housing. Occasionally these sales will also occur in the event of a divorce, foreclosure, or relocation where it would be cheaper to buy new items then to carry their old ones with them.
Estate sales also known as tag sales, are carried out by professional estate sale company who usually conduct the sale for a previously agreed upon percentage of the revenues. A professional is more able to carry out the proceedings as it may be difficult for the survivors of a deceased loved one to sell these items, despite deciding upon it. The actual carrying out can be much more emotional than simply deciding to proceed with the sale. If you care to look at it another way, professionals are also better equipped to market a sale as well, and often knows the actual values of items better than an average person. This means that they will be able to charge a correct amount, rather than take a bid far too low or far too high for the desired item.
To prevent a mad dash through the doorway at the beginning of a sale, estate sale patrons are given a number. Only so many people may enter a house at a time, for obvious safety reasons as well as to give others a chance to look, and so people must wait until their number is called. Depending upon the size of both the house and the sale, somewhere between ten and twenty people will be allowed inside at a time. If a persons number is not called on the first day, they will often come back on the second day to be one of the first people entering. This process is both fair and safe, allowing everyone to get their proper turn.