With so many companies in the real estate sector, you will need to be careful with Estate sale contracts. The reality of the matter is that these estate sales contracts will differ from one company to the other. Though, regardless of the number of sales you conduct, the sales contract is the most important thing.
The way of business taking the next level depends on it and its reputation is also on the hands of the estate sales contract. Despite the fact that the sales contract advances from time to time when as an entrepreneur you are starting your estate sale company, you should stop somewhere to see far.
Here’s the good news, you don’t have to own an estate sale company to have an estate sale. Estate sales are done when someone very close to you passes away and now you decided through a will of the deceased to marshal all the properties or even a single portion of it. In this case, the proceeds of the estate sale will be determined depending on the terms of the will.
In some cases including the case with action, a professional liquidator or a company is involved in the process of an estate sale. In such a case, the price of estate sale will be determined by the percentage agreeable before the process. The company and the subject will enter into a contract. In most cases, the price of such companies is based on the percentage of sales engendered.
The liquidator or the sales agent company will have to be prepared to handle most things in the whole process. First and foremost, the company or the liquidator will handle the listing of items that are thought to be included in the sale.
The company will also have the responsibility of providing accurate descriptions, evaluate the items and catalog and photograph all the items. Additionally, they will have to market, promote and eventually sell every item on the list.
So how do you go through the whole process of a writing good estate sale contract?
Terms of agreement
This is essentially the first thing that will determine the validity of the contract. So you have to consider the terms that show when the contract sale shall start and end.
It’s also upon you to consider all the services that will be provided by the estate sale company or the liquidator. A good example is a removal and storage of the items to be sold, disposal of such items and many other services.
This is the cleanout fee and the compensation that will be determined by the sale contract. So you should always consider the percentage of gross sales.
The contract should as well have provisions for theft and liability in case something happens. This will also address the general property coverage or insurance.
Provisions for penalties
The party requesting for such services should as well remember to include all the follow-ups for penalties in case the estate sale company fails to clear out a certain number of sellable items.