Liquidating agents

Posted by / 23-May-2020 09:40

Liquidating agents

Likewise, leased property belongs to the lessor, not to you.

Your main options are to return the property or to "assign" the lease contract to someone else (the lessor will usually have the right to refuse an assignment, however).

Don't expect to get more than 80% of an assets value, at most.

If you have items that will be hard to sell, such as worn out equipment and office furniture, consider donating them to charity for a tax deduction.

Examples of these sites include Delisted, RS Trading Company and The Internet Marketing Association of Surplus Dealers. These agents assist other companies in the process of liquidating their assets.Keeping good records of your property and what happens to it will protect you in case a creditor later questions your liquidation of assets or in case you have to file for bankruptcy.You will also need this information for your tax returns.Next you'll want to find buyers for property that is fully paid for and that you have not pledged as collateral for another loan.Use your industry contacts, including appropriate suppliers and competitors, to find buyers.

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When a company liquidates its assets, savvy individuals and businesses have the opportunity to obtain those assets at a significantly reduced price.