Estate Sale Contract
ESTATE SALE AGREEMENT
This agreement (“Agreement”) is between Midwest Century (hereinafter referred to as “Agent”) and ____________________ the owner or legally authorized representative of the owner (hereinafter referred to as “Client”) of the tangible personal property located at ____________________(hereinafter referred to as “Location”) and is for the purpose of granting Agent authority to conduct an estate sale under the terms and conditions set forth below.
DEFINITION OF CLIENT: “Client” includes legal owners, executors, trustees and administrators or other persons authorized by letters of administration to represent an estate.
- Promotional: Agent shall promote the estate sale through the following means:
- Estate sale websites and social media
- Emails to Agent’s current list of active estate sale buyers
- Neighborhood signs indicating estate sale and directions to event
- Contact buyers who actively buy “special” items included in the estate
2. Organizational: Agent shall organize, prepare, display, and make accessible all items subject to the estate sale. Agent may use available tables or shelves for display purposes unless otherwise stated by Client. Agent shall supply any further necessary display tables, racks, shelves and cases required for the sale. Agent shall obtain any necessary permits required for conducting the estate sale.
3. Pricing: Agent and Agent’s designated sales personnel shall have the sole authority to set prices and to discount and/or negotiate prices with buyers to the extent deemed necessary and prudent by the Agent to consummate a sale. Agent, at Agent’s sole discretion, may leave certain items unpriced to invite discussion and negotiation. Agent shall appraise all items to be sold and, if Agent believes certain items are not within Agent’s level of expertise, Agent reserves the right to engage outside appraisers, at Agent’s expense. Agent shall research unique items to determine a fair market value.
Client agrees to pay a 30-40% commission on all gross sales as agreed upon and augmented in this agreement upon assessing the client's sale. There is also a set up, and sale staffing charge of $12 per hour per person, except for the Principal. Each party agrees that this expense and the commission will be paid from the gross proceeds at the end of the sale.
III. AGENT’S DUTIES:
- Agent agrees to conduct a on-site estate/tag sale at the Location and conduct advertising and inviting potential buyers to attend a pre-priced, onsite sale using the traditional tag sale format.
- Agent shall act on a best efforts basis in an effort to obtain a fair and reasonable price for all items. Agent makes no promises or guarantees regarding proceeds that will be generated from the sale.
- Agent shall set the date and hours of the sale.
Agent may “embellish” sale by including desirable, non-Client items that may attract additional buyers.
Agent shall make reasonable efforts to prevent breakage and theft, however Agent will not be responsible for payment or replacement of any items rendered unsellable by these causes.
Agent shall collect sales tax and reimburse said tax to the State of Michigan.
Except as otherwise provided, the Agent shall pay all expenses related to promoting and conducting the sale, including advertising, signage, and payroll taxes.
Agent shall issue payment to Client via U.S. Mail within seven business days from the close of the sale.
Client represents and warrants that the property covered by this agreement is unencumbered property, that Client has the authority to sell the property, and that good title and interest will pass to the buyer at the time of the sale.
Client shall grant Agent full access to the items subject to the estate sale, and to as much of the Location as is required by Agent to conduct the estate sale.
Unless otherwise agreed to by Agent, Client shall not be present at the Location during the hours of the estate sale and shall not interfere with the conduct of the sale or the negotiations of Agent or Agent’s personnel with potential buyers.
Client is responsible for assuring that a Home Owner’s Insurance Policy is in effect during the sale, set up and clean out if applicable. Client shall indemnify, defend, and hold harmless Agent, and its employees, agents, and representatives against all liability, claims, costs, damages and expenses (including reasonable attorney fees) incurred by Agent directly or indirectly arising from or related to the services contracted for under this Agreement, unless resulting from Agent’s own fraud, willful or reckless injury to a person or property, or willful or negligent violation of law.
Client shall provide proper title and/or bill of sale for any property that, by law or common practice, requires such documentation (i.e. motorized vehicles, boats, etc.).
Client agrees to remove all personal property they do not wish to be sold within one week from the date of signing this agreement. Agent shall not be responsible if items left behind by Client are sold, donated or disposed. All valuable property remaining after this window will remain under contact as part of the sale unless other agreements are made. Any items removed from the sale by the client are subject to the agent’s full commission after a week of signing this agreement.
Client is responsible for keeping utilities and restroom in working order during set up, sale and clean out if applicable.
SALE DATE(S) AND PROPERTY ACCESS DATE(S)
DATE(S) OF SALE: ____________.
DATE(S) OF ACCESS TO PROPERTY FOR SETUP OF SALE: _______________.
VII. MISCELLANEOUS PROVISIONS:
Agent, at Agent’s discretion, may accept personal checks tendered by buyers.
Agent shall not be responsible for any damage, either to the merchandise or to the location of the sale, caused by buyers during the sale or by their removal of purchased merchandise.
Agent shall not be responsible for any damage to the unsold items incidental to transportation thereof to auction houses, other sale venues, or charities.
This Agreement is subject to the laws of the state wherein the sale is conducted.
This Agreement may be revised or amended in writing, signed by both parties.
In the event of a dispute between the parties, each agrees to settle the dispute by professional mediation.
All items shall be sold “AS IS, WHERE IS” and without warranty of any kind, express or implied, and Client shall reimburse Agent against any such claims. This excludes items that fall under consignment and private sales.
Any unsalable items - expired safety gear, drugs, alcohol, or items deemed unfit for sale by Agent for legal or any other reasons will be gifted, disposed of or excluded from the sale at the discretion of the Agent.
VIII. OPTIONAL PROVISIONS: (check all that apply)
_______ Donation Provision:
Agent will donate low value, unsold inventory at end of sale and provide Client with donation receipt for free
2._______ Pre-Consignment Provision: For a consignment fee of 35% of the sale price, Agent will list assess the proper channels for listing particular valuables to offer either faster turnarounds or a greater net value.
3._______ Consignment Provision: (Space is limited for consignment on items held till 2022, or until more warehouse space becomes available.) For a consignment fee of 50% of the sale price, Agent will consign for sale, at other estate sales, online, or at live auctions, any unsold inventory deemed appropriate for the particular venue, and provide Client 50% of the proceeds monthly, until sold or donated. Items consigned to the Agent will not be eligible to be returned to the possession of the Client for 3 months unless a verbal agreement has been agreed to in the case for any items already appraised, processed, and listed. This excludes pre-sale items that will be consigned at a 35% commission and only applies to items consigned after the end of the sale. Any items not specifically asked to be returned to Client upon failure of sale after 3 months will be subject to donation. A live inventory will be provided to keep you updated on your consignments. No receipts will be given after 3 months for donated items.
4._______ Full Clean-Out Provision: Agent will transport any items that could not be sold, consigned, or donated to the dump. Hazardous waste cannot be removed by Agent. This is assessed on a case-by-case basis wherein as some estates may require the addition of a rented dump container and extra labor. Labor for a clean-out is at the rate of $35.00 per hour, per person. For a normal estate in the case where a dumpster is not needed and most left over items can go to donations, this fee can be waived.
The terms agreed upon will be as such:
5.______ Real Estate Ready Provision: After all property has been removed from the location, for the rate of $25.00 per hour, per person, Agent shall broom sweep, mop, and/or vacuum all floors, and wipe down counters and surfaces. Any trash removed is subject to dumpster or hauling fees at cost. For a normal estate sale, there is no cost to remove the remainder of unsold items.
6._____ Deep Clean Provision: Deep clean services are provided by a sister company that will provide their own estimate and quote. The typical cost for a 3 bedroom / 2 bathroom home is ~$400.
7._____ Embellishment provision: In the case for homes where there the total expected net of the sale may otherwise not qualify as worth having an estate sale, an embellishment provision may be offered to you allowing Midwest Century to bring in items to add additional value to the sale. This may also be considered in cases where items may be of high value, but the volume for an estate sale is still considered to be too scarce. The seller agrees to taking 10% from the sale of these items.
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