What Exactly is an Estate Sale? An Explanation from an Experienced Estate Sale Company in Overland Park

What Exactly is an Estate Sale? An Explanation from an Experienced Estate Sale Company in Overland Park – There are lots and lots of different types of sales; like a clearance sale, going out of business sale, or liquidation sale, just to name a few. Most people know about these types of sales, but they may not be as familiar with an estate sale.

Estate sales don’t occur every day, and so you must be prepared for them when they appear. As a leading estate sale company in Overland Park, one of the most common misconceptions we hear about estate sales is that “they are like garage sales.” That is not true. Estate sales are unique, and in this blog, we’ll explain some of the finer details of estate sales to help you gain a better understanding of what an estate sale is all about.

The Basics of an Estate Sale Run by an Estate Sale Company in Overland Park

An estate sale is used primarily to liquidate assets or belongings owned by a family or estate. Estate sales are usually held when there is a significant life event within a family. This could be bankruptcy, divorce, moving to a new location, downsizing, or a death in the family. Estate sales allow the public to come and look at various items and purchase any purchase the ones that are for sale.

At estate sales, it is common for there to still be several items on the property that are not for sale. These are often family heirlooms or items with sentimental value that the family wishes to keep. There could also be items that will be left behind for the new owner of the home; these items are often agreed upon by the home’s seller and buyer before the estate sale takes place.

Are Prices Negotiable with an Estate Sale Company in Overland Park?

A lot of thought is put into pricing each individual item, but there are some items that are still open for negotiation. Large items like furniture and appliances may have negotiable prices because both the seller and the estate sale company want to liquidate inventory. Each company is different, whether you’re working with an estate sale company or an estate auction company in Overland Park. Some will engage in price negotiations and bids, others will not.

What is the Difference Between Working With an Estate Sale Company and an Estate Auction Company in Overland Park? 

An estate sale company will set prices for all items before the sale begins, while an estate auction company will take bids on all items and sell them to the highest bidder. An auction can last quite a long time, as the auctioneers will sell off all items one by one throughout the duration of the sale.

Estate sales usually go more quickly for buyers since they can pick out items to buy and purchase them as they please. If it was an auction, they would have to wait for the auctioneer to get to the item(s) they’re interested in buying.

Are You Looking for a Dependable Auction House in Overland Park? 

Mayo Auction & Realty is a full-service real estate auction company in Overland Park that effectively markets your property to the world. As a seller, you will enjoy getting market value for your property or assets in the time frame you need. We are a live auction company in Overland Park as well. As a buyer, you will enjoy our easy-to-use competitive bidding marketplace.

The Mayo Auction & Realty team is here to make your life easier, so contact us today. We look forward to assisting you with all your auction and estate sale needs.

816.361.2600