Do You Need an Estate Sale?
[vc_row][vc_column][vc_column_text]Right around this time of year, our phones ring off the hook with people wondering if they should have an estate sale. Do you wonder, too?
Recap: What’s an Estate Sale?
An estate sale is a: “way of liquidating the belongings of a family or estate. These are usually much more than garage or yard sales” (estatesales.net). Confused? A tag sale is generally for surplus items in the attic or garage, usually selling for a few dollars each. An estate sale is generally for selling all the items in a house, which can include objects selling for up to thousands of dollars each. In other words, an estate sale typically has higher quantity and quality objects for sale.
There are Reasons You May Want an Estate Sale.
The 4 Moments of Disruption (The 4-D’s)
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Death
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Divorce
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Downsizing
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Debt
Death
Whe
n someone passes away, the executor of their estate has a 1,000 things to think about, including planning the future of the decedent’s real estate and home contents. It is a daunting commitment for someone trying to comprehend a recent loss. There are times when the executor does not live near the estate or have the time to dedicate to the project. This is a perfect time to consider an estate sale.
Divorce
Although lots of people get divorced, few need to liquidate. Most couples divide up the family’s assets, home and contents. An appraiser canbe called in to help with this equitable distribution. When terms cannot be negotiated successfully and the ownership of objects becomes disputed, some divorcees choose to sell everything and divide the proceeds. This is a good time to consider an estate sale.
Downsizing
For parents becoming empty nesters, retirees, and older family members, downsizing is often the best solution to entering the next chapter of one’s life. Selling the big home and the big home’s contents can streamline life to manageable proportions. Having an estate sale offers a great opportunity to profit during this process.
Debt
Unfortunately, outstanding bills can get the best of the most well-intentioned people. To overcome debt, some will liquidate assets of all types, including their home contents. To get a fresh start, an estate sale may be a solution to financial crisis. If one of the "4-D's" is affecting your life, consider an estate sale. Perhaps there are other methodologies more fruitful or timely, but consulting an estate sale professional will give you peace of mind. Engage experts to help you decide how to handle your home contents.
You don’t need an estate sale, but still need help?
Those looking to evaluate or sell fine art, jewelry, sterling silver, antiques, bronzes, porcelain, collectibles, luxury goods, and entire home contents can find help at The Magnusson Group. (If you’d like to see a sample of objects we’ve handled in the past, please visit our Gallery page.)Our expert appraisers and advisors create the most profitable, personalized project plan for you. Call our office today at 973-425-1550.Remember: You don’t hire professionals because it costs you, you hire professionals because it pays!
Co-Authors: Lynn Magnusson, ASA, AAA and Becky Lipnick, Communications Coordinator[/vc_column_text][/vc_column][/vc_row]