|•||Liquidation value is often called the "Quick Sale Value"|
|•||When a property is marketed for an abbreviated period of time, the amount realized is probably the liquidation value|
Example 1: Roger has failed to make his house payments and the bank has advertised the foreclosure of his house. Roger needs to sell the house and pay off the lien before it goes to foreclosure. In order to do so, Roger sells the house for an amount significantly below market value.
Example 2: Everett was transferred to Baltimore from Atlanta. He tried to sell his house in Atlanta before he left but was unable to do so. Since he purchased a house in Baltimore, it is necessary for Everett to make two very high monthly payments. Everett instructed his real estate agent to reduce the price as much as necessary to sell the house within 30 days. Everett is marketing his house at the liquidation value.