Asset Location -

Asset location and recovery is the first step in the asset liquidation process. This process involves investigating and identifying any physical assets such as office equipment and real estate, as well as assets such as income sources and accounts receivables. Once you have completed the location and recovery of your assets you will have a clear picture of what your organization does and does not own.

Asset Repair -

During the asset liquidation process, once you’ve located and recovered your assets, the next step is asset repair. The purpose of inspecting and repairing your assets is to make sure that you can obtain the maximum value for those assets when it comes time to liquidate, or sell them. Inspection involves actually looking at the assets to find if there are any defects that may need to be repaired. Repairing the assets involves taking necessary steps to ensure the working order of the asset, or to make sure the assets is in as good a condition as possible.

Asset Organization -

After locating, recovering and repairing your assets, you will want to perform asset organization so that you can be better prepared to sell them. Once the assets have been organized, you will be better able to assign a value to them. You will want to get the most value for your assets, and if they are in a disorganized state, or have not been cataloged properly, the other steps in the asset liquidation process become more difficult.

Asset Marketing -

Once you have your assets located, repaired, cataloged and organized, you will want to perform asset marketing. This is the process that will let potential buyers know that you have assets for sale, and what they are worth. There are several methods available to advertise your assets, such as internet marketing, newspaper advertisements, and also networking through people. You must let people know that you are selling items so that you can actually sell the assets and obtain the most value for them possible.

Asset Sales -

The final step in the process of asset liquidation is asset sales. This is when you actually hand over your asset to a buyer in exchange for money. There are many aspects to asset sales that are important to get right, so a thorough understanding of the process is essential so that complications to not arise that would delay or even cancel the sale.

Asset Valuation -

Asset valuation refers to the amount of money that your assets are worth in an asset liquidation situation. The rule of thumb for these values is at least 20% less than the retail value of the asset. It is important to get a qualified individual who can help you determine the actual value of your asset. This will help not only in the sale of the asset, but will also help the decision of whether or not to actually sell the asset. If the asset is not worth enough money, it may not be beneficial to sell it at all.

Legal Advisory -

A legal advisory is a warning or notification of a legal aspect. Within the process of asset liquidation, an example of a legal advisory is stating that any items that are sold are sold “as-is” without any implied warranty. Legal advisories can be applied to any asset liquidation process where it is important to state legal terms to any people that are involved with the sales process. Without legal advisories, the process of asset liquidation has the potential to be dragged into a costly, time consuming legal situation so it is important to understand what your rights are, and what legal advisories need to be stated clearly.

Asset Inspection -

Asset inspection involves carefully examining your assets to make sure that you understand every aspect of it including its condition, its status, and its value. Asset inspection your assets is important in the asset liquidation process because it will help to make other aspects of the process run smoother making the whole thing as easy as possible. If you know specific information about your assets after a close examination, it will aide in the advertising and the sale of them so that when you do complete a sale, you will obtain maximum value.

Asset Sales Broker - Asset sales brokers aid in the selling of your assets. Rather than selling the asset yourself, a broker will do the marketing, advertising and selling of your asset. Often this is beneficial because a broker will know more about the sales process than you do. They will also have their own sales process in place to make the operation run as smooth as possible. Sales brokers will also be able to point out various legal pitfalls that can occur, such as implying a warranty when you should not and various other aspects to an asset liquidation sales process.