When it’s time to sell equipment, private sale is often the first, or “go to” choice for many people. If all goes well, the selling process can be quick and painless, and the seller gets the price they want. Unfortunately, that scenario is usually the exception, not the rule. With so many moving parts in the sales process – from listing your equipment to dealing with potential buyers – it can easily get derailed. But regardless of whether the selling experience is a smooth ride or a bumpy road, the real risks remain. Here are some to keep in mind: Time risk – the clock is ticking Often sellers are in a time crunch. It could be self-imposed or external – there are jobs coming up, a location move, money is needed elsewhere in your business, or the bank is waiting on payments. Either way, sellers can find themselves facing a ticking clock and risk running it down without selling, as there’s no guarantee of a sale date when selling privately. You’re at the mercy of the markets and buyers, and if money is still owed on your machines, the bank’s deadlines for loan or financing repayments. Personal liability – … Continue reading Selling equipment privately – risk and liability included