What checks do you make on vehicles and plant?
Road registered vehicles are HPI checked for outstanding finance, theft markers and write off history. Plant is checked against the industry finance and theft registers. Where finance is found, the item is held until the finance company confirms whether it will repossess or allow the sale to proceed with settlement from the proceeds.
This question comes up in
Liquidation and insolvency asset sales
Sales run on the instruction of administrators, liquidators, lenders and landlords, with the records they need.
Related questions
Read more
- What insolvency practitioners need from an auctioneer
For office holders realising physical assets. Covers the instruction letter, the asset schedule and valuation basis, retention of title, finance and HPI checks, site security, health and safety during the sale, and the reconciliation you need for the file.
Other questions
- Is there a minimum quantity? Surplus equipment
- Do we have to sell everything on the site? Site dispersals
- What do buyers want to know about a forklift? Warehouse equipment