It is important to learn how an estate sale works in Colorado Springs and how you go about it from first call to final cleanout. Let’s explore this.
What Is an Estate Sale and How Do Estate Sales Work?
Estate sales can happen after someone has passed away, as long as there is enough property left in the home. The personal property of the decedent needs to be sufficient so that the estate sale company can make money and the estate can make money.
A home must have enough personal property of high-quality items that will work for an estate sale in Colorado Springs.
Estate Sales in Colorado Springs, CO
Preparing Items for an Estate Sale
When planning to have an estate sale, do not throw anything away. Trash cannot be sold, but junk can be sold. Deciding what is junk and what is not will add up in the sale. Definitely do not throw anything away until a company comes in to evaluate the sale.
Take the items that are really wanted before the sale. When going through the home, a lot of preparation is not required. Go through and pick the items wanted, then identify those. Leave everything else as it is.
Boxing things up or doing anything else is not necessary. That is just going to cause more work for the estate sale company.
Evaluating and Selecting an Estate Sale Company
Check their experience, see if they are licensed and bonded, and check if there are any extra fees. Some companies tend to have a lower percentage, but by the time they add the fees, it is going to affect the outcome.
Do not just judge a company by the fees. Judge a company by all the services that they offer and their expertise in estate sales.
What Does the Estate Sale Company Do?
First, they come to the home, look around, and examine all the different items. They open up drawers, open up cupboards, and determine if there is enough property left for the sale. This ensures they can make money and the estate will make money.
Once they have decided that a property is a good candidate for an estate sale, they look at their calendar. They determine when they can hold a two-day sale. The sales are typically held on Saturday and Sunday.
They will come into the home the week before, set out tables, and go through everything. They check the garage, closets, drawers, and cupboards. They will lay out all the items so that they can be easily seen by the people coming to the estate sale. Everything is done with reverence for the personal property, liquidating the items that belonged to a loved one.
The Final Cleanout Process
The remaining personal property, after the sale is complete, will be looked at by a buyout company. They will offer a dollar amount and take everything that is remaining. Once all of the items are out of the house, the process is complete.
Find Paperwork First
Before a single box gets moved, locate the documents. Find the will, trust paperwork, life insurance policies, deeds, and titles. Locate real estate documentation, bank statements, stock certificates, retirement account information, tax returns, and receipts.
You need every one of these when it is time to file the estate tax returns. Once the house starts getting empty, paper is the easiest thing in the world to lose forever.
Slow down and look everywhere. People hide things in the strangest places. Look in the pockets, drawers, high shelves, containers, tins, and shoe boxes. Take the time because you only get one pass at this.
Get Family Early
Get the family in the room early. Have each person write down what they would like to have and start from those lists. Keep the estate sale process calm and keep it moving forward.
Protect the memorabilia and the photos. To a buyer, a box is worth nothing. To your family, it might be the only thing in the house that is truly irreplaceable. Nobody is paying for that scrapbook, but you can replace furniture. Set it aside first.
Clothing and Appraisers
Do not donate the clothing yet. Call an estate sale company in Colorado Springs before you donate or sell a single item of clothing or a single box of books. Vintage pieces can carry real value. Try a consignment shop before you donate.
Bring an appraiser when it is warranted. If the estate has significant paintings, jewelry, or antique furnishings, get it appraised before anything is priced.
| Strategy | Action |
| Appraisers | Bring an appraiser when the estate has significant paintings, jewelry, or antique furnishings. |
| Consignment | Try a consignment shop before you donate. |
| Donations | Make sure belongings get where they are supposed to go. |
Get help. This work is physically and emotionally exhausting. Moving furniture, cleaning, hauling, disposing. This is where a buyout company earns its keep. They walk the whole house, make an offer, and handle everything.
