We often talk here about businesses closing due to lack of business. But what happens when a successful business has to close because of the death of the owner? In these cases, a lot of factors come into play, like differing opinions about what to do with the company’s assets. When multiple family members are involved in selling off a business and there was no exit plan in place, things can get heated quickly and it’s best to rely on the services of a professional.
This is exactly what a recent article titled “Business or Estate Liquidations Deserve a Professional” says. Sometimes, people try to quietly sell off assets privately, with no help from a professional, because it seems simpler. But according to the article, this decision can result in financial disaster when assets are sold by people who have no idea what they’re worth.
A route that people often take when selling off their assets is to go to an auctioneer. But it is extremely important either to see someone who is both a CMEA and an auctioneer, or visit two separate professionals. If you’re trying to find a CMEA while selling off a company’s assets, use us as a resource!
The NEBB Institute endorses and strives to observe the highest standards of professional ethics to preserve the public trust inherent in the professional appraisal practice. The Institute provides initial and monthly comprehensive education, ongoing support, and a dynamic international network, and certifies professionals in the art of machinery/equipment appraisal and brokerage.
By: NEBB Institute
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