Estate Sales: Are Auctions Better than Tag Sales?
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Executors faced with having an estate sale in Roanoke and Southwestern Virginia immediately learn that promotion the contents of a house is their most time-consuming administrative task. Executors who don’t perform their assignment could be removed from office by the Probate Judge, so it is vital that they diligently pursue disposing of the estate’s property so that the bills can be paid and the estate settled.
What youll get from this article
Executors in Southwestern Virginia and Roanoke have three main liquidation options, and I will discuss the pros and cons of each in this article. Any company chosen to liquidate an estate should be checked out; I will tell you how to do this thoroughly, and I will also make my recommendation for the best liquidation method. I assume that the twin liquidation goals of the Executor are to get the best monetary return for the estate and to leave the house broom-clean so that it can be sold. Of course, there are ways to maximize the cash return for each type of sale, and I’ll tell you what they are. Investing ten minutes into reading this article could save an Executor many hours of work.
Option 1: Have An Auction On-Site
Benefits of an On-Site Auction:
There are a lot of Auctioneers in Southwestern Virginia. Auctions are “huge” in the South and Midwest, the largest auction states are Virginia, North Carolina, Texas, and Indiana. Auctioneers in Roanoke and Southwestern Virginia are very competitive. It should be an simple job for an executor to find an auction company willing to take the job, and commissions will be competitive. A strong argument for an on-site estate auction is that when the auction is over, there will be very small clean-up. If you like, the real estate can be auctioned as well, since Virginia auctioneers are licensed to auction the real estate and other titled property. In one day, the house, car, boat, RV, and all the household goods could be sold.
Negatives for an On-Site Auction:
Auctions are driven by competitive bidding. Consequently, it is necessary to have a lot of people at your auction. Huge crowds require nice weather, plenty of parking, bathrooms, food, and refreshments to keep the people from leaving. Online bidding can be included to boost attendance, but it is the local crowd that builds excitement and drives the prices up. To pull towards you a crowd, the estate must have collectibles and other
