Asset Liquidation Information

  • What do we do when we live far away?
  • What to do with years of accumulated personal property that no longer fits in a new space, does not fit with a new lifestyle or that needs to be liquidated to meet financial obligations?
  • Who will catalogue the contents in the home?
  • Who will help determine which items are of sentimental and/or monetary value?
  • Who will facilitate the donation, disposal or liquidation of items that are no longer wanted?
  • Who will physically perform the actual sorting, disposal, or liquidation functions?
  • Who will help manage the various industries that have a stake in the individual's transition?

The answer to many of these questions depends on the circumstances surrounding the transition.

  • Geographical Limitations
    • In some cases the individuals involved in the transition are physically capable of completing most of these tasks. But there are geographical limitations which prevent them from effectively and efficiently being available.
  • Forced Transition:
    • In unfortunate circumstances there is a forced transition. These usually involve physical or emotional distress. prevent involved parties from making solid choices or being able to carry out the necessary tasks.

Estate Liquidation

Just as there are many choices and decisions surrounding transitions, there are many options for dealing with the estate's assets. These options include:

Single Price:

  • This is the fastest method. However, the estate may not get the full value of each item.
  • A dealer or re-seller will usually come to the home and offer one price for all of the items under the roof.

Auction or Consignment

  • Placing various pieces with auction houses and/or consignment shops for liquidation.
  • There are typically high fees and commissions paid for selling items through these channels. Depending on the items, this may or may not be worth the effort.
  • Auction or Consignment would most likely only apply to a limited number of items within most households.
  • The estate would have to find other ways of liquidating or disposing of the remaining items.

Estate Sale

  • On-site or off-site estate sales. Off-site sales take place when the home is not appropriately sized for safe human traffic; or when the homeowners association or the size of the street does not allow for parking.
  • Can be conducted by the family or by an estate sale professional.
  • Items are left in the home and tagged with sale prices. The home is normally opened to the public and runs for two-three days.
  • When conducted by family, estate sales are emotionally and physically draining.
  • Most individuals are not in a position to make an appropriate determination on the price for items.
  • The estate would have to find other ways of liquidating or disposing of the remaining items.