When one of your elderly family members passes away, once you’ve handled the funeral, cremation and other after death arrangements, you will have the task of selling off parts of the deceased’s property that were not mentioned in the will. This may include clothing, jewelry, tools, furniture and more. The best way to make sure that their possessions don’t go to waste or in the trash is to hold an estate sale. Read on to learn some of the best practices when holding this type of sale.
Take Inventory
Before you begin selling, you’ll need to know what your relative had. Search closets, garages, storage units and more to take stock of all of the items you have to sell. Keep things organized by keeping a spreadsheet of the inventory and check the items off as they sell.
Figure Out What to Sell
Not everything will have value to estate sale shoppers, so only pick the items you’re sure will sell. This includes jewelry, vintage clothing and tools, both old and new. If you comes across items you think have little monetary value, donate them to a charity or drop them at a recycling plant.
Price Your Items
Depending on whether you want to hold out and make more money or if you want to clear out all of the items in your loved one’s home, set your prices accordingly. Price your items higher for better buyers and lower to move your stuff.
Advertise Your Sale
This can be as simple as putting up signs around the neighborhood, or you can go all out and list on Craigslist and promote the sale on Facebook and Twitter. Of course, the more exposure you give your sale, the more people are likely to attend.
Should You Hire a Professional?
Sometimes handling all of these details can become too overwhelming, and you can’t imagine handling an estate sale. When this happens, consider hiring a professional to come and help run your sale for you. They will handle all of the organization details and help you set prices to get the best value for the items you’re selling.
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