Estate executors are often faced with the difficult task of settling an estate’s bills without having sufficient cash flow to hand. Often, the only solution is to sell the estate’s assets. Estate liquidation is a time-consuming and challenging task, however, and before deciding on this route, it is worth informing yourself on its pros and cons to determine if it is worth it.
Pros of Estate Liquidation
The primary benefit of liquidating the estate through an auction – whether on or offsite – is that you will work with professional liquidators who have plenty of experience. Their expertise will take much of the weight off your shoulders. Liquidators know the ins and outs of the industry – they can assess the value of the estate’s belongings with great accuracy and ensure that they fetch a fair price. They know what buyers to target, and where and when to hold auctions to increase the chances of selling. They are professionals who can facilitate sales and manage the details so that you don’t have to worry about them. Reputable estate liquidators will be insured, which will help you rest assured that the belongings are covered in the event of an incident. In addition, most estate liquidators will clear the property out for you, removing all the furniture and other items you intend to sell. You don’t have to worry about logistics or setting up the sale. You can simply turn everything over and wait for the proceeds to come in.
Cons of Estate Liquidation
There is really only one serious drawback that could arise when working with estate liquidators. It is vital that you choose the right estate sale company, or else you will not see any of the benefits outlined above. There are many individuals and companies out there offering liquidation services and not all of them are legitimate. If you don’t do enough research and ask enough questions while you are looking for a liquidator, you could fall prey to scammers or even companies that, while well-meaning, don’t have the expertise to carry out the sale properly. Be careful, seek out liquidators that are well established and have good reputations, and can offer impeccable references.
Jerry’s Antiques serves all of New Jersey with a wide array of services, including full liquidation of contents, estate sales, private sales of a few items, professional appraisals, full or partial cleanouts and more. If you are looking for a trusted partner in estate liquidation, contact us today.
