Estate Liquidation Explained: A Simple Timeline for Executors & Families
What is estate liquidation? (definitions)
Estate liquidation is the process of selling the personal property of a deceased person's estate. This isn't just about having a 'sale'; it's a comprehensive service that includes appraising assets, organizing and marketing items, managing the sale itself, and finally, clearing the property completely. The goal is to maximize the financial return for the beneficiaries while minimizing their stress and workload.
Typical timeline: from first call to final cleanout
While every estate is different, a typical timeline looks like this:
- Week 1: Initial consultation, contract signing, and key handover. We do an initial walkthrough to assess the scope.
- Weeks 2-3: Sorting, organizing, and appraisal. Our team carefully goes through the contents, separating items for sale, donation, and disposal. Valuables are professionally appraised.
- Week 4: Sale preparation. This includes professional photography, writing item descriptions, and marketing the sale (usually an online auction).
- Week 5: The sale goes live! Online auctions typically run for 7-10 days.
- Week 6: Item pickup and shipping. We manage the entire process for the winning bidders.
- Week 7: Final cleanout and accounting. The property is cleared of any remaining items, and a detailed financial statement and payment are delivered to the executor.
Who does what: executors, family, and the estate company
The Executor/Family's Role: Your main job is to make decisions. Identify any items you wish to keep before we begin. You provide the legal authority for us to act on your behalf. After that, we handle the day-to-day logistics.
Our Role: We are the project managers. We handle everything from the initial sorting to the final sweep-out, keeping you informed every step of the way without overwhelming you with details.
Costs, fees, and transparent pricing examples
Transparency is everything to us. Our fees are typically commission-based, taken from the gross proceeds of the sale. This means we are motivated to get the best possible prices for you. Any additional services, like trash hauling or specific deep cleaning, are quoted upfront with no hidden charges. You will see a clear breakdown of all costs in our final report.
How we protect sentimental items & document provenance
Before the liquidation process begins, we ask the family to identify and remove any items they wish to keep. During the sorting phase, if we come across items that appear to be of high sentimental value (like personal photos, letters, or documents), we set them aside for your review. For valuable items, we document any known history (provenance), which can significantly increase their value at auction.