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5 Steps to Easily Process Your Business Liquidation

April 07, 2021

Businesses need to liquidate for various reasons, and the process of business liquidation involves several steps. Irrespective of the reason that a company chooses to liquidate its business, the process can be tedious, which is why it’s important to go through the right channels to help maximize their asset returns and further cut their losses. Implementing the following simple steps could help with the liquidation of a business.

Steps to process business liquidation

Inspect your Assets

Before you close your facility to finalize your business liquidation, ensure that you inspect it for every equipment and tool onsite. This will help you pre-assess the state of the equipment before appraisers and restorers come in to evaluate and assess their value.

Get Help from Appraisers

Appraisal teams allow you to gain maximum profit by evaluating your equipment and property's actual selling value. Working with an experienced appraisal team will help companies understand and define the accurate value of the devices, equipment, and tools that they plan on liquidating.

Organize your Paperwork

Be it dealing with the paperwork that you will need for liquidating or the one related to your inventory management, it’s important to have it all in order. If any of your products come with existing warranties and guarantees, make sure that you have the relevant documents handy, as it would help maximize the product sale value.

Hold an Online Auction

Once you obtain all the necessary business liquidation permits, you'll need another set for holding auctions. Online auctions require you to register an account and have professional auctioneers hold an auction.

Contact a Reliable Auction Company

We highly recommend that you get in touch with a reputable auction company after you've secured all your local permits. They'll handle all the early bird selling, appraisal, restoration, and auction process on your behalf. This service is helpful, especially if you are stretched thin on resources and labour.

You Won't Need to Look Far to Find One

If you are yet to find a dependable auctioneer to work with, you can count on Infinity Asset Solutions to meet all your custom needs. With decades of experience, we are confident about delivering the best auctions with excellent and consistent outcomes. Contact us today to learn more about everything that we can achieve with you.

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