UCC-1 Foreclosure Sales

UCC foreclosure sales are used when personal property is subject to a perfected security interest and disposition is pursued under the Uniform Commercial Code. These sales require careful coordination, proper notice, and a commercially reasonable sale process.

MEGA Auctions provides UCC-1 Foreclosure Sale services for secured creditors, lenders, and attorneys who need assets sold in a controlled, transparent, and well-documented manner.

When UCC-1 Foreclosure Sales Are Used

UCC-1 foreclosure sales are typically pursued when:

• A secured obligation is in default
• The creditor has a perfected security interest
• Disposition is authorized under applicable UCC provisions
• Assets must be sold to satisfy or reduce the secured debt

These matters often involve heightened scrutiny and require strict adherence to procedural requirements.

A Commercially Reasonable Sale Process

UCC foreclosure sales must be conducted in a commercially reasonable manner. This standard affects how assets are marketed, how sales are structured, and how outcomes are documented.

Our approach typically includes:

• Confirming authority to proceed with sale
• Coordinating notice requirements with counsel
• Selecting an appropriate sale method
• Marketing assets to a relevant buyer audience
• Conducting the sale in a transparent manner

The process is tailored to the asset type and circumstances involved.

Notice, Marketing & Execution

Proper notice and marketing are critical components of UCC foreclosure sales.

This may involve:

• Providing notice to required parties
• Publishing or distributing sale information as appropriate
• Allowing reasonable time for buyer participation
• Executing the sale consistent with UCC standards

Documentation of these steps is an important part of the record.

Proceeds Handling & Recordkeeping

Following a UCC foreclosure sale, proceeds must be handled in accordance with applicable requirements.

This may include:

• Application of proceeds to secured obligations
• Accounting of costs and sale expenses
• Documentation supporting the disposition

Clear records help address questions that may arise after the sale.

How MEGA Auctions Supports UCC Foreclosure Sales

Our role is to support the sale process by:

• Executing the sale method selected
• Managing marketing and buyer engagement
• Coordinating logistics and removal
• Providing documentation of the sale process and results

We work in coordination with legal counsel to ensure alignment with the overall enforcement strategy.

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When To Involve MEGA Auctions

UCC-1 Foreclosure Sale services are best engaged:

• Early in the enforcement planning process
• Before assets are moved, sold, or otherwise disposed of
• When transparency and documentation are important
• When sale execution requires coordination and experience

Early involvement helps ensure the sale is structured correctly from the outset.

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Let’s Talk

If you’re considering a UCC-1 foreclosure sale and want to discuss options or timing, we’re happy to help.