From The MSM Archives: Do-It-Yourself Auctions? By Jeffrey Greenberger


    Question: When I conduct a lien sale, am I required to use an auctioneer or can I conduct the sale myself?

    Answer: The definitive answer to this question depends on your lien sale statute; i.e., it depends on the state in which your facility is located. Most lien sale statutes discuss the concept of “sale.” Some state’s statutes give light treatment to that concept by merely mentioning in the lien right section of the statute that you have to send out a notice disclosing that, if the lien is not paid, the property maybe sold. Other state statutes go into much greater detail regarding the requirements of a sale, right down to setting days of the week on which you may not conduct a lien sale.

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