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Republic of the Philippines City of CebuSection I. INVITATION TO BID (Notice of Auction Sale) Disposal by Sale of Unserviceable Properties on an asiswhereis, cleanup, and all must go basis1. The
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01
Determine the item(s) you wish to dispose of by sale.
02
Research the market value of the item(s) to set a reasonable price.
03
Prepare the item(s) for sale, ensuring they are clean and in good condition.
04
Choose a platform for sale (online marketplace, auction, garage sale, etc.).
05
Create a detailed description of the item(s) including any flaws.
06
List the item(s) for sale, including high-quality photographs.
07
Communicate clearly with potential buyers and answer any questions.
08
Finalize the sale by arranging payment and delivery or pickup details.
09
Complete any required documentation for the sale.

Who needs disposal by sale of?

01
Individuals decluttering their homes and wanting to sell unwanted items.
02
Businesses looking to sell surplus inventory or equipment.
03
Organizations seeking to liquidate assets for financial reasons.
04
Estate executors managing the sale of items from a deceased person's estate.
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Disposal by sale refers to the process of selling an asset, property, or inventory that is no longer needed or wanted by a business or individual.
Typically, businesses and individuals who sell assets or property that are subject to reporting requirements must file for disposal by sale, especially if the transaction impacts capital gains or tax reporting.
To fill out a disposal by sale form, you need to provide relevant details such as the description of the asset, sale date, selling price, and any related expenses incurred during the sale.
The purpose of disposal by sale is to formally document the sale of an asset, helping to ensure proper accounting and compliance with tax obligations.
Information that must be reported includes the asset description, sale date, sale amount, acquisition cost, and any expenses related to the sale.
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