Liquidating business assets

For example, if you’re liquidating a snow plowing company, more people will be interested in acquiring plows and snowblowers when winter is approaching, rather than when winter is ending.

Similarly, if you have a retail pool store, there will be more demand when the weather is nice than when snow is falling.

(To ensure there isn’t any confusion about the sale, all bills of sale should clearly state “as-is, where-is.”) If your business owes creditors, they will have first claim on any proceeds you receive from a liquidation auction.

While no one enjoys paying creditors, it must be done.

You’ll immediately be free to move on — and have the money you need to do so.

First, if demand for your business’ assets is seasonally affected, you’ll want to schedule the auction for when demand is at its peak.You should have a general idea of when demand for your business’ assets peak and when people in your industry are available.An expert who has held liquidation auctions before can help you use this knowledge to select the best time for your auction.Because all sales are “as-is, where-is,” you won’t need to deal with returns, refunds or repairs.The bidder is responsible for the assets they purchase, and you’ll have money in hand when they take possession of the assets.

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