Estate sales are a great way to liquidate your personal belongings prior to a bankruptcy. In some cases, the courts may require you to liquidate your assets to pay off as many of your debts as possible. If you're planning on having an estate sale, there are some things to do that will improve your chances of having a successful sale. Here are four steps you should take.
Hire an Appraiser
Before you arrange your estate sale, it's a good idea to hire a professional appraiser, like those at Best Rate Cleanout, to assess the value of the property you plan to sell. Not knowing how much your property is worth could set you up for failure by creating a situation where you set your prices either too high or too low. Once you know how much your property is worth, you'll be able to set realistic prices for your sale.
When you're preparing for an estate sale, it's important that your plans include advertising. A successful estate sale depends heavily on advertising. Instead of limiting your advertising to posting signs in your yard, expand to include other avenues. The bigger audience you reach, the more successful your sale will be. You should include newspapers and social media in your advertising plans. Be sure to include your address with cross-streets as well as the planned hours of operation for your sale.
Set Everything Out
When you're trying to determine which items to sell, don't assume that some of your belongings won't have value. You never know what your customers will be looking for. Something that means nothing to you may be exactly what one of your customers is looking for. When it's time to set your belongings out, bring everything out. That lamp that you think is ugly may sell first.
Don't Wait for a Better Offer
If you get an offer for an item and the offer falls within the value set by the appraiser, take the offer. The last thing you want to do is hold out for a better offer that might not appear. Of course, if someone tries to low-ball you on an offer, counter with an offer that's closer to the actual value of the item. This is a good way to ensure that you and the customer walk away satisfied with the sale.
If you're going to be having an estate sale to satisfy bankruptcy debts, you want to make sure it's a success. The tips provided here will help you have a successful estate sale.Share