Going Through Your Loved Ones Items Can Feel Challenging, so Let’s Look at Five Resources to Liquidate an Estate
After a loss, you may have to allocate or liquidate the estate; Schrader-Howell Funeral Home wants to make it easier for you, so we have five tips to consider.
Losing a loved one can be incredibly painful and exhausting, and if you have been named the executor, this extra responsibility can feel like a challenge. While planning the cremation services in Plymouth Township, MI, can be done with a trusted source, you may need some extra resources when it's time to go through the individual's belongings. Knowing where to start is critical, so let's look at five ways to clear out the deceased’s assets.
Know the Worth of the Items
One of the first steps for processing any assets is to know the financial value of the items. This is especially true if there are any expensive belongings like artwork or antiques and there are local appraisers who are professionally trained and can help you with this process. They can determine whether the items need to go to a higher level auction company or ones that can be sold through a local smaller agency or sale.
Have a Sale
Yard, garage, and estate sales are also great resources, and if you have a lot of more valuable items, it is recommended to list the event as an estate sale. However, if it's an equal amount of high-priced low-end items, be sure to have the higher-priced items in the same area. You can also consider hiring a professional who will help you organize the event, and they typically will take a portion of the total sale as payment.
Consider Using an Auction
Auctions are another great option, and regardless of the item's price, they can be a great way to gain interest from buyers. There are also reserve auctions where the individual selling the item will set a specific price that needs to be met before the item can be sold; just be aware that auction companies will charge anywhere from 10% to 30% due to the advertising, pick up, and storage of the belongings.
Check Out Consignment Stores
Consignment stores can be another excellent resource; the shop will sell and display the items, and the typical payment is between 40 and 50% of the final selling price. Once the time frame has run out, if any items remain, they are generally donated to a local agency or charity.
Sell the Items Online
Platforms like Facebook Marketplace, eBay, and Craigslist are all other options. While some of these may come with a seller's fee, they can be an excellent resource, just be prepared to not only negotiate on prices, but you will have to upload photos and market the items, so ask for support if needed.
Your Source for Exceptional Care and Professional Services
If any items are remaining, you can always donate them and check with family or friends to see if there are any belongings, they would like to have the period, and if you need support planning the cremation services in Plymouth Township, MI, our team is here for you. We offer exceptional services and take great pride in helping our clients lay their loved ones to rest, so call us today to get started.
