Liquidating agents


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Your list should include: For property, write down a description of each item or category of property, the condition of the property, and who technically owns it—that is, what money was used to purchase the property—your personal funds, a partner's personal funds, or business funds.

In addition to tangible property, you may be able to sell intangible property that your business owns, such as: As you liquidate these assets, you'll want to record on this list how you tried to sell each piece of property (save copies of ads or Web listings), who ended up buying it, and the amount you received.

As to accounts receiveable, don't forget that they will be much less valuable after you close.

So make a high-energy effort to collect them now, or sell them accounts receivable to a factor, or debt buyer, who will either buy your accounts receivable at a fraction of their worth or, for a fee, pay you a certain percentage of the debt up front and the rest when they collect it.

Don't expect to get more than 80% of an assets value, at most.