Is Estate Liquidation The Right Choice For You?
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- Опубликовано: 18 окт 2024
- Estate Liquidation: My Personal Journey with Tips to Succeed!
#decluttering #estatesale #estatesales
Is Estate Liquidation The Right Choice For You? Could Estate Liquidation be considered a method of decluttering?
Are you someone responsible for liquidating an entire estate? Perhaps a loved one has passed away, and it's now your responsibility to clear out their house and belongings. Or, if you're like me, you've decided to liquidate everything to travel the world as a nomad. I'm Debbie Morton, and in this video, I share my experience with estate sale companies and my thoughts on whether estate liquidation is right for you.
A year ago, after liquidating everything I owned, I hit the road to travel the world. This decision came after my husband passed away, and I found it difficult to stay in our house filled with memories. We had a lot of timeshare points banked because of the pandemic, so I decided to travel until I figured out my next steps. If you'd like to follow along on my travels, my journey through grief, and my adventures around the world, hit the subscribe button. It's totally free and helps RUclips know what content you enjoy, so you'll get more of what you like.
When it came to liquidating my parents' estates, I was fortunate. My father's and stepmother's estate in Kansas was managed by enthusiastic relatives who staged a garage sale and donated items to the church. Similarly, in Seattle, a dear friend's sister loved estate sale projects and handled everything for my parents' estate. However, my own experience was different. After my husband passed away, I had to manage our four-bedroom house and three-car garage filled with stuff.
The process was daunting due to my grief and the deadlines I had to meet. A real estate agent friend suggested I talk to estate sale companies. I interviewed three companies, each with different fees and processes. The first company charged $2,500 upfront plus a 60/40 split of the proceeds. The second company required $3,000 or 40%, whichever was greater. The third company was similar, with $3,500 upfront and 40% of proceeds.
The most valuable advice came from the third company. The representative was honest and suggested I conduct the sale myself, explaining that unless I had high-value antiques or collections, I wouldn't benefit much from their services. She even provided pricing advice for my items, which was incredibly helpful.
I decided to handle the sale myself, which proved to be the right choice. By doing it myself, I came out ahead financially. During this time, I also shared my experiences on Facebook, asking for feedback on estate sales. Not one person had a positive experience with estate sale companies, although I'm sure there are success stories out there. I'd like to hear if you have had success with an estate sale company or have any estate sale tips of your own? If you've had a positive experience, please share in the comments!
Estate sale companies can be valuable if the estate is far from you, and you lack the resources or help to manage the sale. If you're balancing a full-time job, kids, and other responsibilities, hiring a professional might be necessary. However, be prepared that the proceeds might not be as high as you expect once the company's cut is taken.
Consider other options like donating items to charity, which can provide tax write-offs. Always do your research, meet with different estate sale companies, and evaluate what works best for your situation.
If you're downsizing or decluttering your home, I have other videos on my channel detailing my downsizing steps and handling emotional attachment to items. You can see them here: • Learn The Secrets Of D...
Is Estate Liquidation The Right Choice For You? Could Estate Liquidation be a helpful method of decluttering? I'd love to hear whether you have used an estate sale company and what your experience was? Please comment below and let me know!? Please also consider subscribing to my channel - your support means the world to me 😊
Thanks for the video. A relative of mine sadly lost their spouse recently whilst living abroad. Now having to sell up and move back home as thats where family are. But because of restrictions regarding what can be shipped etc they were looking at the prospect of leaving most of their stuff or just giving it away as its a lot to deal with right now on top of everything else. So good to know that there are some other ways to consider like you mention. I will tell them about this 👌
Thank you so much for sharing. My heart breaks for your relative as that is a lot to deal with while they are doing their best to navigate through grief and what will become their next chapter. I do have a couple of other videos that talk about the emotional aspect of getting rid of everything and how to of getting rid of everything. My condolences to the family. ❤️🙏🏼
Sometimes when people have to clear out a home they start to see dollar signs on everything. The reality is that in many homes the bulk of the items are functional and don't necessarily have a lot of value.
Well said. I felt the same in the beginning until reality started to set in.