Clearing a deceased estate can be a nerve-wracking affair. More often than not, friends and family do not know how to clear the estate as they prepare it for sale or handover to a beneficiary. Below is an article with some expert tips on deceased estate clearance.
Check the Will
If the deceased had a will, check its terms to know the items they bequeathed to their friends and family. It is an important consideration since you risk prosecution if you disregard the terms of the will.
Your next task is to sort out the items. Typically, you should have a list dividing the items to be cleared into several categories. For instance, you should determine the items to keep, those to dispose of or sell. Items to keep could include photo albums, jewellery, personal documents and family heirlooms. Electronics, clothes, furniture and cars can be sold for a profit. On the other hand, broken appliances, irrelevant paperwork and worn-out clothes should be disposed of at an appropriate facility.
Hold an Auction
A neighbourhood auction is probably the best way to sell items from a deceased estate. Unknown to most people, an auction can raise more funds than other modes of sale. As a rule, the auction should be planned with precision. Below is a short guide to help you:
- Know what you will sell at the auction. Ideally, it should be items that neighbours would be interested in buying as a way to remember the deceased.
- Clean and polish the items to give them a refined and appealing look.
- Set a reserve price for each item to be sold at the auction. It is a sure price to push buyers to increase their bids.
- Determine an appropriate auction date and advertise the auction through word of mouth and social media.
- Stage the items creatively on the auction day. For example, it is common for buyers to presume that the last item on auction is the most valuable.
Items not sold at the auction could be sold on e-commerce websites or second-hand dealers in your locality. Remember to describe the item accurately to ensure the buyer understands the value of the item.
Deceased estate clearance companies provide assistance in sorting, selling and disposing of items from a deceased estate. They can significantly ease the clearance process. When hiring the company, assess their reputation by interviewing some of their clients and checking internet reviews. Additionally, ensure that the company has an operating licence.