What is liquidating assets mean

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The good news is that there are many easy ways to sell items of value these days.You can hold a garage sale with a few friends or family or take out an ad in local paper for larger items.In most cases the cash is intended for paying creditors.Both businesses and private individuals can liquidate their assets, which may include real estate, automobiles, equipment, raw materials and investments.Liquidation can occur regardless of the nature of the asset or the identity of the buyer.

Once the process is complete, the business is dissolved.

While the process of closing a business is very difficult for many reasons, it is important to make sure you get the best value for your assets, pay your employees, satisfy your creditors, and comply with state and federal laws.

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Selling items in a consignment shop is another option.

Keep in mind you will have to pay a small fee for the convenience of using their space and items usually must be current and in good condition.

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