Settling Estates by Auction
At Dudley’s Auction, we are uniquely positioned to handle all types of estate situations. As Certified Estate Specialists with the National Auctioneer Association, we have a staff of experienced, hands-on professionals with years of experience in all aspects of both personal property and real estate liquidation. We have the knowledge, working experience and capability to handle even the most daunting task, from simple pre-planned, single heir situations, to complicated multifamily and generational situations.
Fortunately, for most individuals the task of settling an estate is only an once-in-a-lifetime experience. The property in question most likely possesses some level of sentimental attachment and the job of “how to deal with everything” can seem overwhelming.
Dudley’s staff can accompany you or your agent to the property to make an inspection and an initial assessment. We will help identify areas which may hold hidden value and present ways to help reduce the stress and workload. We then present options, allowing you to concentrate on those aspects of the estate which are particularly important to you.
Our personnel will assist in reviewing documents to help ensure that proper authority and chain of command has been followed and if warranted, recommend council who can assist in ensuring any requirements of the court are met. If required by the courts or requested by council, Dudley’s can conduct an appraisal of the property and present a written report of value.
Once an assessment has been made and assets have been identified, a liquidation marketing plan can be formulated. Depending on the situation this plan could involve an onsite auction or tag sale. Items would be offered for sale to the public through an event held on the premises at a scheduled date and time. Another option is having items tagged, packed, and transported back to our auction gallery. There they would be sorted, lotted, and auctioned at one of our auctions. The gallery option is used most often, as it offers the most flexibility. In the case of specialty items or collections, we may suggest having a targeted auction; often with online bidding to achieve maximum exposure. Finally, in some instances the answer could be as simple as establishing a fair market sale price and liquidating the property in a single purchase. Depending on the complexity of the project the entire process from introduction to settlement can occur in a matter of days or weeks.
By enlisting the help of a qualified professional, the estate is looked at objectively and evaluated piece-by-piece to help choose the best course of action to ensure the greatest return on investment possible. In a world of changing markets it is imperative to look at all aspects of the project when determining direction and sale in potential markets.