Presentation Transcript

1. Estate Sale Contracts

   Carol Madden Editor EstateSalesNews.com
2. Disclaimer I am not an attorney. I do not provide legal advice. The information presented here. is based on my 25 years in the estate liquidation business. Please consult your attorney for legal advice or contract legalities.
3. What you need to include in your Estate Sale Contract For your protection and To prevent misunderstandings Simplicity and Clarity For a successful relationship
4. Contract Necessities Top of contract Company Name, Address, Phone # (logo if available) Be Professional
5. 1st Paragraph This agreement dated ____________________ is between (your company name) and __________________________(seller, heir(s), attorney, executor(s) of ___________________
6. 2nd Paragraph (who, what, & where) (Your company name) agrees to conduct an estate/house/tag/moving sale on____________ ______________at _____________________ ________ in the county of_______ (state)____
7. 3rd Paragraph Power & Water The owner(s), executor(s), heir(s), attorney, will provide electric, water, and (heat if necessary) at all times until the sale is concluded and ___________________(your company name) has vacated the premises. This might also be a place where you include who is responsible for snow removal etc. if you are in a climate that has winter weather.
8. 4th Paragraph Commission/Fee The owner(s), executors(s), heir(s), attorney, agree to pay (company name) ________% of the gross proceeds of the sale (or a flat fee of $__________) upon completion of the sale. **If you have a mininum fee for a sale this is where to insert it with a ______ for initialing by all partiesto the agreement.
9. 5th Paragraph Cancellation Policy You can include this with the money paragraph or as the following paragraph: If the owner(s), executor(s), heir(s), attorney, decide to cancel the sale within _______ days of the sale date on this agreement $_________ will be due upon cancellation of the sale to (company name) leavea ____________ for all parties to initial.
10. 6th Paragraph Advertising (_______________ ) or (your company name) pays for the advertising including newspaper(s) and internet. If there is anything special or additional for ads put that on the addendum.If a company chooses to disclose in writing where the ads will be placed you can do that on the addendum.
11. 7th Paragraph Disclaimer (Your company name) will make all possible attempts to obtain the highest prices for the goods being sold, but cannot make any guarantees of the prices or of the gross sale total. This lets the seller know you cannot always determine the outcome, but you are working to get them the best possible results.
12. __ 8th Paragraph Pricing and Selling Here is where you take charge and be the professional. (Your company name) and staff will research, price, and sell the contents. Discuss any price issues with the owner. If absolutely necessary include a minimum price for an item on the addendum. Let the owner know that you are working in their best interest, however, they are hiring you as a knowledgeable professional.
13. 9th Paragraph Items Removed If any item that was to be included in the sale as of the date of this contract is sold (by the seller) or removed from the sale without notation on the attached addendum the owner(s), executor(s), heir(s), attorney, agree to pay (your company name) ________% commission based on the sale value from the seller’s net proceeds of the sale.
14. 10th Paragraph – Liability etc. The above named owner(s), executor(s), heir(s), attorney, agrees not to hold (your company name) or staff responsible for any damage or liability to persons or property (real or otherwise) before, during or immediately after the sale. You should have your own liability insurance and make sure the seller does too. You can use this area to mention bonding if you choose.
15. 11th Paragraph – Disposal of goods & Addendum (Your company name) **is or is not**(However you handle the cleanout) responsible for the disposal of any goods not sold at the sale without inclusion in this contract. ** See Addendum attached for additional information, additions, or deletions for this sale. If you want to charge additional costs this is a good place for it with room for seller to initial.
16. Last & VIP – Signatures & Dates Line with place for you to sign and date ____________________ _______________ (your company name) (date) Two lines for seller etc. signature and dates ____________________ _______________ Seller(s),heir(s),attorney (date) ____________________ _______________ Seller(s),heir(s),attorney (date)