Moving Out: A Beginner’s Guide to Selling an Estate

Moving Out: A Beginner’s Guide to Selling an Estate
  • Opening Intro -

    If you're managing the liquidation of a relative's estate for the first time, the job may seem overwhelming.

    Fortunately, handling an estate doesn't have to be a burden, assuming you do it correctly.

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There are many organizations, companies, and tools that can give you a helping hand. If you reach out to the proper sources and look for a variety of avenues to sell, you are bound to succeed. Here are four of the basic steps you need to take to successfully sell an estate.

Have All Major Items Appraised

Before you start selling things, especially online, it’s important to have a verified source confirm their worth. Have an appraiser come in and give you rough value estimates for the major items you’ll need to move.

If the estate you’re selling includes several antique pieces, you may need to bring in a specialized antique appraiser. At this stage, it’s also a good idea to have the house associated with the estate valued by a professional, since you’ll need to know how to price it when you put it on the market.

Hold an Estate Sale

Estate sales are by far the easiest way to clear out a large amount of the estate’s inventory. While high-value items might require a more specialized venue, estate sales can make it easy to reduce the amount of material you’re dealing with.

Work with your chosen firm to plan out a schedule for selling all these items. Some large items, such as appliances or furniture, can even be moved at these sales for reasonable prices.

Sell or Scrap Vehicles

If the estate you’re dealing with has a few vehicles attached to it, you’ll likely need to liquidate them. For cars in good condition, this can be as simple as selling them to a dealership, though you could also sell them privately for a bit more money.

If one of more of the vehicles isn’t in running order, you can get rid of it by selling it to a local scrap yard. There are also online means of doing car research and selling. The modern era has given you many options to sell automobiles.

Last, Sell the Property

Once you’ve cleared out furniture, everyday items, antiques and vehicles, you’ll have the deal with the sale of the house itself. While the price and process will vary a bit depending on your location and the market for real estate in your area, it’s almost always best to sell through an experienced real estate agency.

other valuable tips:

Trying to list and sell the house privately is a huge burden and usually results in a lower price than a good agent can get for you. If the estate is being divided up among several beneficiaries, you may even find that one of them is interested in buying the home from the estate.

Although this is only a basic roadmap for liquidating an estate, following these steps will at least make the process a bit easier. Keep in mind that every estate is different, so you may have some unique challenges not covered by these universal steps.

While selling an estate might be a once in a lifetime event for you, there are several professionals who have multiple experiences under their belt. Don’t be afraid to ask question or to do your research. If you do, the process is very likely to go smoothly.

Image Credit: selling an estate by Pixabay

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Consumer Tips reference:

GUIDE: turn your home into a bank

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