| p>Want to sell your annuity or structured settlement? | | | | desperate for cash. Weakness is often taken |
| Here are some common mistakes to avoid. | | | | advantage of. By keeping a professional attitude and |
| 1) Only talking to one funding company. | | | | making them realize that you're looking for the best |
| People considering selling their annuity or structured | | | | offer and you're in no rush to sell until you obtain an |
| settlement are usually in a quick need of a cash lump | | | | offer you find acceptable you change the sales |
| sum. Whether they need the money to cover medical | | | | dynamic to your favor. |
| bills, make home mortgage payments, buy a new car, | | | | 3) Selling part of your annuity or structured settlement |
| send a kid to college, whatever it may be. You | | | | without regard to future payment stream |
| generally need money and you need it fast. In a hurry, | | | | Believe it or not people forget that when selling only a |
| a person will usually call a number they find in a TV | | | | portion of their annuity or structured settlement they |
| commercial or internet search and agree to the first | | | | reduce their future payment stream. So when the next |
| annuity or structured settlement buy-out offer they | | | | payment comes they often realize that they can't live |
| receive. This is often a mistake. Funding companies | | | | off that monthly or annual amount and are forced into |
| are vicious competitors and by obtaining multiple bids | | | | selling more. Do the math before-hand. Make sure the |
| from multiple companies you will earn a far better rate. | | | | reduced payment stream after selling a portion is |
| The first offer will often not be the best offer. So, | | | | enough to sustain your current lifestyle needs. |
| practice patience when evaluating offers. Get multiple | | | | 4) Not seeking professional advice |
| bids. Shop around. Make them compete to win your | | | | Talk to your lawyer and accountant before taking any |
| business, and do not rush into the first offer you | | | | deal. Find out all tax consequences of transaction. Run |
| receive. | | | | all contracts by a good attorney before signing. The |
| 2) Not keeping the transaction all business | | | | little it costs to obtain professional tax and legal advice |
| One trick any good salesman employs is to build | | | | could save you a lot of money and trouble down the |
| personal rapport with a prospect. This isn't necessarily | | | | road. |
| a bad thing. It's good to be friendly with the people you | | | | To recap: Talk to multiple funding companies, keep it |
| do business with. However, my advice with these | | | | professional, understand reductions of payment |
| transactions is to keep the dealings all business. Don't | | | | streams if you're selling just a portion and talk to both |
| let them in to why you need the money, your personal | | | | an account and a lawyer to advise you through the |
| problems, nothing. You don't want them to discover | | | | transaction. |
| that you're in great need of the money, or worse, | | | | |