In the business world, liquidation is one of the most common actions taken by business owners and property owners when someone is unable to pay back their debts. Liquidation turns seized assets into cash, and helps those with assets and debt recoup some of their losses.
But liquidation is not only an option for commercial businesses. It can be a way out of debt for an individual as well. For instance, you may be aware of circumstances on the horizon that make liquidating a viable option, such as the need to file for bankruptcy, or an incoming lien. If you know a creditor is likely to petition the court for a lien, you can be proactive and possibly negotiate liquidation with said creditor.
When to Consider Liquidation
There are many times when liquidation is a smart decision for individuals with debt, or those that need to claim money quickly, for example:
- Pre-Home Foreclosure – If you purchased your home during the real estate bubble and you feel your bubble is about to burst under loads of debt, liquidation is an option. You can sell all of your assets to try to pay back debts, or to put yourself in a better financial position if you sell your home.
- Downsizing – Liquidation doesn’t have to be debt related, and downsizing is another reason to consider liquidation. For example, sometimes when people retire they often look for smaller homes. Liquidating may be an option for you as it is a perfect opportunity to liquidate some of the items you no longer need and get cash out of it that can be used to supplement a retirement income. It is a quick and easy way to eliminate the clutter, free up some cash and have a clean start in a new home.
- Estate Liquidation – In addition, those that have inherited an estate may find liquidation to be a smart decision in order to get rid of any excess “stuff” in the estate. Many people think that their only option is a garage/estate sale. But that can take a lot of time and effort, which can be very time-consuming when you are trying to make a million other arrangements.
There are plenty of examples of when liquidation may be a smart decision, and when you do decide you want to liquidate, contact RL Liquidators today.
Why RL Liquidators?
RL Liquidators can relocate the items to auction houses and can, if applicable, propose a buyout option. RL Liquidators also leads the way with online auctions that reach a wider audience, as well as product sales solutions that can help you recoup even more value from your assets.
If you need to liquidate, or are thinking about liquidation, contact RL Liquidators today at (916) 747-7762, and find out more about our non-commercial liquidation options.