Selling one of your assets / possessions

Selling one of your assets / possessions

While not always easy to do, selling an asset is one way to alleviate a difficult financial situation. It is something of value that you own (that you do not owe money on).

How much does it cost?

There are not usually any costs involved in selling most assets, except those related to advertising. However, you may incur costs if you have to hire a professional or if you have certain obligations to fulfill — for example, when selling your car you may have to make repairs or to have it certified as roadworthy before you sell it — these costs must be calculated before you proceed with the sale. If you want to sell an asset to reduce your debts, you must carefully consider any added expenses before going ahead and you may not get what you expect for the sale of an asset that is important to you (e.g. furniture). And you have to use the money you raise from the sale to pay down your debt!

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