Estate Sales and Auctions
An estate sale or auction is a sale to dispose of a substantial portion of the personal property owned by a person who recently died or who must dispose of property to facilitate a move to a new residence where they will not be able to keep their property. Other reasons cited are divorce, relocating to an assisted living facility, a retirement community, or the home of a relative, where they may not be able to retain most of their personal property. In addition, sometimes the beneficiaries of a will or living trust may have no interest in most of the personal property, lack the space to keep the property, or cannot agree on what to do with the property, resulting in a court ordering an estate sale.
Estate sales should be conducted by a professional firm that is bonded, insured, and highly experienced in the process of conducting estate sales. These companies are usually paid a percentage of the net proceeds generated which is usually between 25% and 50% depending on many factors.
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