Estate Sale Insider Tips
A recent news article highlights some great estate sale seller tips. If you need a liquidator, here are some highlights:
Making sure you hire someone with references, and who is bonded as well as insured is critical.
Also, anybody in the liquidation business that is not collecting sales tax is not in compliance with California law. This presents a huge potential problem - if the state cracks down and catches the person you hired, they could be out of business overnight when they are hit with tremendous fines for back due taxes.
Note some companies don't collect sales tax from the buyers, but they deduct it from the sale price. That means as the seller you are paying the tax for the buyer - this means you are being paid $9,250 for a $10,000 estate sale.
Ask your liquidator who pays the sales tax. At Expert Estates, we have the buyer pay it so you are paid $10,000 for a $10,000 sale. This saves our clients 7.5% in Kern County compared to some of the other sellers in the area.
“The truth is, lots of people have estate sales while they’re still alive, and antiques are falling out of favor. And as for the curating, estate sales specialists tell you the biggest rule: Don’t throw anything — that means anything — out. ”
Full article here