Here are seven tips to making a liquidation sale work for you."You can't just go into the store thinking everything is going to be a good deal.
Don't just walk in saying, 'Hey, I want a flat-screen TV,' and walk out with it.
But liquidation sales can be some of the worst places to shop for deals, so it's important to know the pitfalls."Liquidation sales can be worse than the regular promotions available at the same stores before they announce the closing of their businesses," says Tony Gao, a marketing professor and retail expert at Northeastern University's business school in Boston.
Self-Liquidating Loan Self-Liquidating Loan A loan that is taken to fund current assets.
The loan is repaid following the sale of the current assets.
When something is sold "as is," you obviously can't return it to the retailer, but manufacturers might have some legal wiggle room to renege.
A type of short- or intermediate-term credit that is repaid with money generated by the assets it is used to purchase.
A business might use a self-liquidating loan to purchase extra inventory in anticipation of the holiday shopping season.
The revenue generated from selling that inventory would be used to repay the loan.Make sure ahead of time that you know if a warranty is available.In some cases, manufacturer warranties may not apply.For Chapter 7 Bankruptcy, the 341 meeting of creditors must be completed.For Chapter 13 Bankruptcy, Authorization to Incur Debt from the trustee is required.Compare prices and don't just presume everything is a good deal," says Alison Southwick, spokeswoman at the Better Business Bureau, or BBB, in Arlington, Va.