PSA: Not All Auctions are Fire Sales!
Often, when people think of auctions, they immediately think 'fire sale'. While auctioning is a great way to unload assets or even property quickly, not every estate auction is done so because of the need for a fire sale. In fact, auctioning offers many benefits to sellers that often aren't known. This week, we're sharing with you information on what a fire sale is, and the difference between a fire sale and an auction, plus some of the pros of auctioning! What Is a Fire Sale? A fire sale consists of selling property at heavily discounted prices. The term 'fire sale' originally referred to the discount sale of goods that were damaged by fire. Now, it more commonly refers to any sale where the seller is in financial distress and must move assets or property quickly to cover their debt. In the context of the financial markets, a fire sale refers to a situation where securities are trading well below their intrinsic value. Unfortunately, this term is often c