Selling annuities is not new – it’s been happening as long as structured payments have been around, though it has become more common in recent years. For those who find that their structured settlement doesn’t help with a crippling financial situation, finding annuity buyers is important. How do you go about doing that, though? Actually, it can be as simple as going online to find annuity purchasers, but there are a few things you should know.
Go Armed with Information
Before you hit the Internet to find a buyer, it’s important to arm yourself with information. For instance, don’t believe all the hype from late night infomercials. Selling annuity requires more than just a phone call. The entire process can take more than a month, and is subject to a judge’s decision on whether the sale can move forward. Going online to find annuity purchasers should only be done after you have thoroughly researched your situation.
Don’t Search Alone
Another important tip for those going online to find annuity purchasers is that the process is simpler and more efficient when you have help. Don’t look for help from the purchasers themselves, though. Rather, you should work with a brokerage that can help you connect with the most reputable buyers out there. Not only does working with a brokerage ensure that you are able to start receiving offers immediately, but that you can work with some of the better buyers in the market. Going it alone means that you’ll have to rely on your own expertise, which is likely not as robust as it should be.
Of course, you can’t choose a brokerage blindly. Going online to find annuity purchasers is a delicate situation given the legal complexities involved. You need expert help from a company with years of experience under their collective belt. Make sure that the brokerage you work with has a verifiable history stretching back several years. You should also make sure that they are members in good standing with the Better Business Bureau and that they work on your behalf, rather than on behalf of buyers. While brokers exist to connect both parties, you need to have your interests protected and a good brokerage will do just that.
As you can see, there are several things that you need to know before going online to find annuity purchasers.