Does the owner/seller have to participate and what obligations do they have?
In some cases, sellers will be engaged from the very beginning to the end however some don’t nor do they have to be involved. Depending on the type of auction and the assets involved, it might be cost effective for the seller to assist in the setup/clean up phase but it’s not necessary. We’ve worked with plant managers, plant engineers and maintenance staff that can be extremely valuable when we are dealing with highly specialized equipment and inventories. No matter the situation and constraints we face we can provide professional results.
The seller should be able to provide clear title to all the assets being sold. In some cases, if there are liens, we will need to work with lenders and seek their prior approval for the sale. The seller must also provide access to the assets or real estate and insure that we will continue to have access for the removal or transfer period. We may also need to work with the landlord in some cases which we have done in the past. We work hard to offer solutions to problems that some might see as insurmountable.