If you need to sell off assets in order to bring in funds, see what you
have of value to someone else. There are options you can use when
you are looking for a buyer. One option, though not recommended,
is to pawn the item. If you can make an arrangement to buy it back,
this might be a good option for you, but beware - it's hard to find a
reputable person in this arena.
Another option is to list your items in an auction - online or offline.
Be careful of offline auctions - and remain present. Keep a hard
line on the minimum amount you will accept for any items. We had
an auctioneer sell off my mother's estate items and he sold them at
much lower pricing that was fair. She had over $15,000 worth of
items, and he gave us $1200 for the entire lot. We learned a lot that
day. If you have auctioneers come to take your items, make sure to
mark which items to take, or better yet, set them outside and in one
spot, away from your other home items. Our auctioneer went into the
crawlspace and took things we meant to save, and sold them. Don't
ever let an auctioneer get control of your goods.
Online auctions are more controllable - you set them up for bid, and
you decide how much you are willing to take. You get a better idea
if your minimum will even work - it might be too high for the
demand. You have total control over the sale. You can also decide
how long you want the bid to go on - depending on how soon you
need the money. To find some auctions online, go to
Do you have any payment plans that pay out on a monthly basis,
for which you would like a lump sum amount for? Try selling it for
present day cash. If you are holding a mortgage note, or a
lottery winning, or business notes, you can sell those for cash
now. Some of your life insurance policies can be sold, as well,
if you have no real need for them anymore (your kids are grown
and on their own, your spouse may have died, or you know your
life is on a short timeline and you just want to enjoy the time
you have but need money). If you have won a lawsuit that is paying
out in installments, you can sell that for lump sum cash. You may
have other types of assets that you can get cash for - think about it
and see what you might be able to work out.
If you have no assets to sell, you might need to think "outside the
box" - be innovative and figure out what you have to sell - your
talents or services, perhaps? In any case, figure out all your assets -
physical and inner - and see what you think people will pay you
for them or for using them. Price fairly and beware of scams.
About the Author
P. Roe has been representing financial products over the years and has
gained expertise from both training and experience. There is help for your
financial situation, in most cases, and each week the "Funding Solutions"
newsletter brings you more information and details on financial options
and safe investing. Tracking scams has also become a priority.
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