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What is an Estate Sale? |
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An estate sale is one means of selling goods not willed to, or disputed by survivors of a deceased person. In some cases the estate sale can also be used as a means of paying a deceased person’s debts. Generally auctioneers, experts in antiques or simply a professional organization that takes a profit from the sale runs the estate sale. Still, for many, disposing of the goods of a person’s estate is simply too onerous to take on, particularly when people are grieving. When no one in the family wants the goods, then selling them makes the most sense, especially if you have to empty a house in order to sell it. The difference between an estate sale and a garage or yard sale is that normally, the estate sale is run by professionals, and also, the goods you are purchasing probably belonged to someone who is now deceased. This can give people some qualms, particularly when purchasing clothing or beds. It’s well to remember that the estate sale tends to profit the family who has lost someone, and tends to be the easiest way for them to discharge a parent or family member’s debts or claim an inheritance. In the absence of a will or family members to inherit the items, the estate sale is almost always a way of paying for debts, particularly if the person incurred numerous debts at the end of his or her life. Frequently, funeral costs, hospitalization, or long term care can be very expensive things, ill-afforded by a person on a limited income. It’s therefore helpful to creditors, hospitals, funeral homes and the like when such losses can be compensated for. Additionally, some people specify in wills that their goods be sold in an estate sale to benefit some charitable organization. You can ask the person running the estate sale if this is the case. It may help some who feel squeamish purchasing the items of a deceased person to know that their purchases might benefit a worthy charity. An estate stale may last for a day or two, or may be held for two subsequent weekends. You can also find them occurring during the week, and if you’re looking for bargains, a non-weekend estate sale may be the best way to find them. These naturally tend to draw less people, and prices may be lower. The person running the estate sale may also contact or have dealings with antique stores, consignment shops or a variety of other stores that may get first dibs on certain large items. You’ll find a lot of variety at most estate sales. They can include clothes, appliances, household items, linen, silverware and china, but also occasionally cars or boats. You will usually get the best deal on items during the last days of an estate sale, because at that point, the goal is to sell everything. If you find something you like though, you might not want to wait if you feel the item may be quickly sold to someone else. You usually can bargain at an estate sale, since even a slightly reduced price will still normally profit the family and the sale manager or company.
Written by
Tricia Ellis-Christensen |
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