Sellers of structured settlements ought to give major consideration to the prospect of whether or not the sale of a structured settlement is indeed the ideal choice for their particular situation. Let us suppose that you already have thought this decision through quite thoroughly, and you’ve concluded that it is the best choice. In such a case, here are some tips covering a few potential issues to watch out for.
Tips on Selling Structured Settlements
Tip #1: Do not succumb to undue pressure to sell
You need only sell your structured settlement if and when you are truly comfortable doing so. If you even have an inkling that the deal is not legitimate or fair, and the buyer appears to be attempting to modify the original agreement, or tack on extra costs, simply do not finalize the deal. If the buyer seems to be trying to scare you into signing off on the agreement, pause for a moment and refrain from going through with it until you are certain that you are ready.
Tip #2: Read over all the fine print
Go over any paperwork you receive thoroughly to make sure that the company that will buy structured settlements staying true to the price he or she originally quoted.
Request ample information and make certain you completely understand what the agreement entails. If you encounter a defensive buyer who acts suspicious and uncomfortable with your reasonable questions, you have every right to walk away.
Tip #3: Be wary of questionable promises
The majority of all structured settlement transactions require a minimum of 1-2 months to finalize. With this in mind, if a structured settlement buyer claims he can get the deal squared away in an unrealistically short span of time, he or she is most likely baiting you with a false promise. The same goes for overtly large offers. As with anything, if it sounds too good to be true, there is a chance it is. Use good judgment in this regard and be careful!
Tip #4: Never take the first bid that is offered to you
You need to obtain bids from various competing structured settlement purchasers. Even when the very first offer that you receive piques your interest, always await competing offers before making a final choice. It is also important to keep the bids you have received private from other potential bidders—even if some potential buyers inquire on the offers you have received up to that point. This approach can help you to make sure you are given neutral, unbiased bids.
So there you have it; our tips on selling structured settlements. When you know what to expect, you’re more likely to make an informed decision about who will have the opportunity to buy your structured settlement. Remember, RSL Funding will always be in your corner.
