How do estate sales work?
See also: What is an estate sale?
Estate sales typically take place over a weekend. The address of the estate sale will be advertised, which attracts members of the public to attend the sale and purchase items directly from the home. Promotional methods may include national estate sale listings websites, local advertising and neighborhood signs. A professional estate sellers or estate liquidator will leverage their own email database and social media following to attract large numbers of estate sale shoppers. Estate sales can be hugely popular and may draw hundreds or thousands of visiting shoppers. Estate sale shoppers particularly enjoy the experience because they can often find rare and unique items that are unavailable for them to buy new.
The practical implications of receiving a potentially huge number of visitors to a home mean that the estate sale process usually requires a great deal of planning and supervision, which is one of the reasons why it is generally managed by professional estate sellers who are experts in how to run an estate sale. There may be hundreds or thousands of items for sale, all of which have to be priced, merchandised and advertised (read: how does estate sale pricing work?). The home has to be made safe and accessible to estate sale shoppers who need to understand what’s for sale, what the asking price is and how to buy it. Home security during an estate sale is also paramount. For these reasons the process is generally too overwhelming for an estate owner to take on independently without professional help. This is especially the case when the impetus for the estate sale is a stressful life transition, which is usually the case.
It is common at an estate sale that everything visible to shoppers inside the home is available for purchase and that all items are tagged with a price (hence ‘tag’ sale). Estate liquidators manage sale days with an orderly entry system at the door and strict supervision throughout the home. They will also implement security policies such as asking visitors not to bring large bags, food or pets into the estate sale. Purchasing transactions are made inside the home and the buyer will take the item immediately after checking out. In some cases where the item purchased cannot be moved safely during a busy sale (like a large piece of furniture) a later pick up date may be arranged immediately after the estate sale. Typically estate liquidators ask their clients (the estate owner) not to be present during the sale. After an estate sale unsold items are usually donated to charity. Read: what happens to estate sale leftovers?
How do estate sales work?
Estate sales can be hugely popular and may draw hundreds or thousands of visiting shoppers.
Should I have an estate sale before or after selling my house?
Whether you have an estate sale before or after selling your house may depend on various factors. Remember that an estate sale is likely to leave your home empty, so if you are still living in it and need a bed to sleep in and a sofa to sit on then it may be best to wait until after you have secured a buyer for your home. It is typical for estate owners to engage an estate liquidator after their house sale is agreed but in plenty of time for closing. For this reason it is important to coordinate the timing of your closing with your realtor in order to allow enough time for an estate sale.
There may occasions where having an estate sale before the house is sold is more appropriate, for example if you are not living in the property and your realtor advises you to empty it, either so it presents better for potential buyers or to make room so it can be staged professionally. Of course the converse could be true if your realtor thinks it may sell better as you already have it, so be sure to seek their advice before making a decision about the timing of your estate sale.
In either event it is always better to have an estate sale after you have vacated the property and any items that are not for sale have been removed.