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An estate liquidation is similar to an estate sale in that the main concern or goal is to liquidate the estate (home, garage, sheds and yard) with an estate sale organization while also often adding the contents of a safe deposit box, family heirlooms too valuable to be left within the constraints of the family home, real estate, cars, boats, and other transportation such as motor homes and RVs, animals, livestock and whatever other assets the estate may encompass.
In the United States, while it is necessary in most states that a realtor be present to write up the documents for the sale of real land, most other items do not require any other license or permit other than the local licenses needed to run a business in that city, county or state where the liquidation is taking place. Oftentimes the family will retain a lawyer to oversee the process of liquidation and to keep the system straight on legalities of stocks and bonds being traded, investments liquidated and any real property changing hands legally.
Estate liquidations happen mostly like estate sales, with the liquidators making the home and items to be sold ready for a public sale. Most liquidators will charge a commission of a percentage of the net profit.
Differences from estate sales
The main differences between an estate liquidation and a mere estate sale is the sphere of inclusion which in a liquidation can expand to stocks, bonds, real property, fine jewelry, coin collections and fine art. Often an estate liquidation is accompanied by realtors, attorneys, Certified Public Accountants, and appraisers, while an estate sale can be done by anyone with knowledge of value of household items and collectibles in question.
Forms of estate liquidation
Besides estate sales, liquidating the estate may be done in the form of an auction or the estate liquidator will offer a cash buy-out for the entire contents of a home.