I Have To Liquidate My Assets, What Do I Do?
Liquidation of your assets can be an intimidating process. However, all-in-all, the process is a relatively easy solution to some significant financial problems you may be facing.
An individual may choose to liquidate their possessions or investments to pay off creditors, convert assets to cash for spending, or the investor wants to re-allocate their funds. You might liquidate a vacation home to pay for your child’s college; you may want to boost your retirement nest egg. Whatever the reason, liquidating your assets can be a legitimate mean to an end.
What does it mean to liquidate assets?
In financial terminology, assets are items that have value. When your debts begin to outweigh your assets or become more than you can repay, it may be necessary to liquidate, or sell off, your assets to remain financially stable. When your assets are liquidated, they are converted into cash, or sold to pay creditors.
If I have to liquidate my assets, do I have to sell everything I own?
Property comes in two general classes: real estate and personal property. While both types can be liquidated and sold, property such as homes, stocks, bonds, precious metals, and land are often looked at regarding relative liquidity. Real estate property is frequently considered an asset, both in accounting terms as well as its ability to be liquidated for money. Simply put, property such as a home is not liquid, but it can be used as currency for its sale.
While not considered property in a classic sense, money itself is the most liquid asset. By definition, money is a recognized currency, and you can use it to buy almost anything. This fact makes currency entirely liquid.
Selling real estate to liquidate assets.
Generally speaking, if you have to liquidate your assets it doesn’t have to be an all-consuming process. In fact, there are a number of simple solutions to the many financial problems you are now experiencing.
There are many reasons you may need to liquidate your assets. You need money to pay creditors, cover spending, or simply desire to re-allocate your funds; your child might be heading off to college soon, or your retirement savings could use a boots. No matter the situation, liquidation of your assets could be the key to solving your financial problems.
When should I liquidate my assets?
If you are going through bankruptcy, property liquidation may be required to pay off your debts. When this happens, you are to list all of your property under the supervision of a court-appointed trustee, who then determines what could be sold to pay off your debts. Depending on what you owe on the property you list in the bankruptcy, a trustee may decide not to liquidate anything at all, or, instead, quite a lot. You may be concerned that you will be left with nothing, but not to worry, bankruptcy law does not let that happen.
Chapter 7 liquidation, through the assistance of a court-appointed trustee, determines which creditors have to be paid first as a priority, and so on. There are certain federal exemptions in place to protect individual assets. However, it is important to remember that just because the trustee can’t sell that particular asset, it doesn’t mean your lender can't take it back.
TW Homes, LLC will help you liquidate your real property.
If you are going through the process of asset liquidation, depending on the type of property you own and your personal debt situation, the procedure can vary widely. If anyone other than yourself, such as an executor of an estate, a court-appointed trustee, or bank, is not in charge of handling the process, you may be able to sell your assets on the open market yourself.
If you decide to take charge of liquidating your house, with TW Homes, LLC, the undertaking will be made a lot less cumbersome, and save you unneeded stress. If you choose to liquidate your real property through a broker or realtor, you will quickly realize just how long, and drawn-out the process can be. Liquidating your real assets with a traditional broker or realtor could take months, but we can close the deal on your home in just seven days. With TW Homes, LLC, you can still receive the highest-possible cash amount for the property, even if it is in a state of disrepair. We will buy your house as-is, so no repairs or renovations are needed beforehand.
Ok, I have heard enough.
Our home buying processes makes liquidating your home easy and convenient.
- We pay cash for your house – no delays at the closing table, no hassles with bank mortgage approvals, and no reason why your home can’t close in 7 days in most cases. Sell your house to us and we’ll show up at closing with cash so you can move on.
- We’ll Pay Regular Closing Costs – Since you don’t have closing costs, you can be sure exactly how much money you’ll take away from the closing table. You’ll never have to pay thousands in closing costs when you sell a house to us.
- No Real Estate Commissions – Real estate commissions can cost you thousands of dollars at closing. No real estate agent or broker commissions will be due when your sell your house to us because We Buy Houses Quickly. We’ll buy your house in “as is” condition, regardless of any issues it may have.
- Quick Closings – Getting an offer to the closing table for your home through a traditional real estate transaction can take months or years. Offers to buy your home may have stipulations, contingencies, and even homeowner demands attached that may require repairs at your expense. Some buyers may need to wait to sell their home before they can close on yours. More hassles can arise causing more problems with property inspections, loan approvals and home appraisals.
- No Renovations Or Repairs Required – When you sell your house, we buy it in its current condition. Don’t pour money into your home just to sell it. We will make a cash offer for your home in its current condition, regardless of repairs that may be needed.
Whether you’re ready to sell your house today, or you’d just like a little more information about the process, give us a call at or contact us through our website form. With just some general information about your property, we can schedule a time for a visit and evaluate your home to present a free, no-obligation cash offer to purchase your home.