Britannia AuctionsWhat if my business has items on finance?
An item on hire purchase, lease or loan belongs to the funder until it is settled, and it can only be sold with their agreement. Tell us at the outset. Where they agree, the settlement figure is usually paid from the proceeds and the balance comes to you. Selling without consent can leave you liable, so this is not something to skip.
This question comes up in
Selling the machinery, stock and fittings when an owner retires and the equipment goes rather than the business.
Related questions
Read more
- Auction or private treaty: which route to choose
Auction gives you a fixed date and an open market. Private treaty gives you a negotiated price and privacy. This guide sets out when each route suits, what you give up with each, and why many sales use both.
Other questions
- Is VAT charged on auction sales? General
- Can this happen while the site is still trading? Factory clearance
- What if the stock is branded? Stock clearance
- How quickly can a kitchen be cleared? Catering equipment