Selling a judgment on real estate has many potential advantages, depending on the specific details and situation. Here are some reasons to consider selling.
Immediate Cash Flow
Selling a judgment on real estate can provide fast access to cash. You do not need to go through a lengthy and complex selling process. You can collect your funds immediately instead of waiting for the debtor to fulfill the judgment over a longer period. When you sell a judgment, you get a lump sum.
You can count on companies such as Mayflower Judgments for a predictable outcome. You receive a fixed amount of cash. This contrasts with the uncertainty of waiting for the debtor to satisfy the conditions of the judgment.
Greater Liquidity
A judgment on real estate is typically not a liquid asset. You cannot quickly convert your real estate into cash while holding onto the property. Selling a judgment gives you greater liquidity. Depending on your financial situation, you may prefer the security of having extra cash on hand.
Fewer Challenges
Selling a judgment involves fewer challenges compared to collecting it. When attempting to collect payments from the debtor, you may face complex legal procedures, negotiations, and other challenges. These difficulties may even limit your potential income from the property.
Choosing to sell your judgment essentially transfers the responsibility of collecting debt to the buyer. If you prefer not to be involved in the collection efforts or lack the resources to pursue the debtor, you may find selling the judgment to be much more convenient.
