FAQs
Q: How do I find who wants my asset?
Q: How do I post an item on AssetFair?
A: Sign up for a free membership. To post a new asset, go to List Your Asset from any page and proceed step by step to enter your listing. Choose a preferred exchange asset. For easy navigation, follow the INFO BOX guidance (browse over the blue "i" squares at each field). Once you have entered all data, you will be prompted to review and confirm your listing.
To post a debt, go to Trade Your Debt. Select the category of your debt. On the next page, you will proceed with the listing in a way similar to List Your Asset.
Q: How do I obtain Value Comparison?
A: AssetFair.com contains listings of assets of most diverse catories and values located all around the world. Just go to Asset Search and browse through the database narrowing your search by using the filters on the left - categories, age of listing, value and location. Select one or more filters and click "Update" at the top of the left tab column. For value comparison, use the filters narrowing the search down to the nature and location of your asset.
Q: How do I attract cash offers and cash bids?
A: Once you have listed your asset and/or debt with an attached asset, you can generate either all cash offers (Cash Bids) or part-cash offers (Offers).
Cash Bids: Any AssetFair(tm) member in good standing can make a cash bid on your listed asset. When you list your asset, after you have chosen a preferred exchange category, you are asked to set up a Cash Reserve as a minimum price you would be willing to accept in cash for your asset, instead of exchange. AssetFair™ will not disclose your reserve to the bidder. If your minimum price is met, you will be notified and put together with the bidder. All bids below your reserve will be automatically rejected.
Part-Cash Offers: If you insist on receiving a portion of your Asset Equity in cash only, you can indicate so in the List Your Asset menu by entering the required cash amount in the "Cash Only" field. The system will deduct this amount from Asset Equity to compute your Exchangeable Equity, i.e. the balance that you want to exchange for an asset other than cash. For the amount of EE, you will be able to name your preferred exchange category and location). DO NOT CONFUSE "CASH ONLY" with "CASH RESERVE"! Cash Reserve applies to the bidders who make all cash bids only and does not display anywhere, while the Cash Only shows and reduces your exchange possibilities.
Q: How do I structure win-win deals to exchange assets of uneven value?
Q: How do I make an exchange deal on AssetFair?
A: Sign up for a free membership and then:
See Wanted – List Your Asset – Make an Offer pledging your asset – Receive Reply - Accept, reject, negotiate with the other party. Close the deal, for more tips and recommendation, see the Tools box.
Using Asset Search and other search engines on the site, when you locate an item of your interest, its View Detail menu prompts you to Make an Offer. Please note that using this option, YOU CAN ONLY OFFER ASSETS THAT YOU HAVE ALREADY POSTED ON ASSETFAIR.
Q: How do I trade debt?
Our special feature, TradeYourDebt™, allows members to list their debts and offer related or unrelated assets in exchange fro the debt relief, i.e. let the other party pay off or assume the listed debt. For more explanation and various examples, go to TradeYourDebt™ page, select the type of debt and click on the Tutorial on the next page.
Q: How do I minimize tax impact on my transaction?
Q: How do I diversify my portfolio?
A: In the current state of economy, most of us feel that we are vested too much in a particular asset category and wish we would have a leverage in spreading our holdings in more asset forms. A person having 90% of its net worth vested in real estate may wish to exchange a portion of it for some asstes of immediate use. On the other hand, somebody owning too many toys of depreciating value (boats, vehicles etc.) may wish to excahnge some of them for holdings of a more upside potential. Q: What are the fees to become AssetFair member? Once you have registered, you will be able to search for assets (posted and wanted) using search filters, store your favorites, ask questions of owners, find out about exchange tools and enjoy other features of AssetFair™, all free. Posting an item for exchange is subject to charge - go to List Your Asset for current fees. Q: How do I make a cash bid? Q: How do I contact an owner of a listed asset? Q: How do I check received offers? If you receive a cash bid, it should be of a higher value than the Cash Reserve you have stated in your listing entry (AssetFair will reject, on your behalf, any cash bids lower than your Cash Reserve). You are supposed to accept such bid and negotiate a practical execution of the sale of your asset for the offered cash amount. Your failure to accept a cash bid exceeding your Cash Reserve may result in negative rating and possible suspension from AssetFair™ membership. Q: What are Tools? AssetFair provides its users with helpful hints and suggestions how to execute a barter transaction, providing a sample exchange contract, an addendum to listing agreements for real estate professionals, showing leads to escrow services, title insurance, transportation companies, and other professional services (see Tools). AssetFair™ is not affiliated with any of those companies. All materials and information provided need to be verified to suit individual needs. Before consummating any barter transaction, AssetFair™ strongly recommends that all its users consult with their tax, financial, legal, or other qualified advisors. AssetFair.com computes your Asset Equity as your declared asset value, less any debt or lien on the asset that you have stated. Be sure to list ALL encumbrances! Since AssetFair allows you to trade your encumbered property, your receivable or debt (backed up by an asset of higher value), it creates a unique opportunity for lenders. When a potential provider of new financing joins an exchange opportunity, the stage is set for a three-party deal. AssetFair trademarks such a situation as a “3-D Exchange”, where the three parties to a deal are defined as follows: Owner – Owns an encumbered asset Redeemer – Acquires the Owner’s asset and the underlying debt through 3-D Exchange Lender – Provides new financing to Redeemer Our 3-D Exchange platform enables any two from the above parties to seek the third counterpart as per following examples: 1. You are an owner of an encumbered property. While you are confident that the property’s fair market value sufficiently exceeds the amount of debt on it, you are falling behind in your payments or you just want to get rid of your debt, willing to exchange any positive equity you have in the property for another asset. The lien holder is willing to extend the financing to a qualified new borrower, or you have located a new lender who would provide a new loan to a qualified borrower, secured by the property. You are then seeking a new borrower (Redeemer) who would assume your property, sign a note for a new loan with the lender you recommend and trade you an asset of his own in exchange for any positive equity you have in your property, subject to mutual agreement. You will pursue this deal on 3-D Exchange by posting the proposal as “Owner and Lender seek Redeemer”. The same deal may be initiated by the original Lender who holds the note and who, for whatever reason, prefers to extend the financing, in the original or a different amount, to a new qualified borrower. In either case, the Lender and the Owner are looking for a Redeemer. 2. You own an asset with a debt on it. You have located a party (Redeemer) ready to take over your asset and assume the debt. He has even agreed (if applicable) to compensate you for your equity in the traded asset in cash or in form of an asset he will transfer to you. However, the lien holder/the existing lender, would not extend the financing to the new party and wants to be paid off. You need to find a lender who will provide a new loan to your Redeemer. You post your deal, including information about the new borrower, on 3-D Exchange as “Owner and Redeemer seek Lender”. Financing opportunities presented by AssetFair, and those generated by its 3-D Exchange in particular, are regularly scanned by both institutional and hard-money lenders. If you are contacted by one of them, you may introduce the Redeemer to work out a new financing deal and complete the 3-party transaction. 3. You are looking for a particular asset in a particular area. You believe you qualify for a mortgage or another form of loan on the sought property (preferably, you have a potential lender lined up). Instead of using cash for a down payment, you are willing to trade another asset that you own. Through a reasonable combination of the financing available to you and the value of the asset you want to use in lieu of down payment, you assess your buying power and list your search for the desired asset on 3-D Exchange as “Redeemer and Lender seek Owner”. Once displayed on AssetFair, your listing is likely to attract a lot of attention since it provides a potential relief to owners troubled by their debt service. If you have different assets that you may be willing to use in lieu of down payment, we encourage you to post multiple listings since they enhance your buying
When listing your asset and naming Preferred Exchange parameters, select categories and locations of your preference that would expand your holdings. During the exchange, you will acquire an asset for asset and will not have to discount your asset for a cash sale. That way, your asset portfolio will retain its value.
Q: What are Matches?
A: When you post an asset or debt on AssetFair, the software will compute your Exchengeable Equity. At the end of the listing process, you will be asked what you want to exchange this equity for - you have up to three exchange categories and locations of your preference to name. Once you have completed the listing process, find your new listing at Manage My Listings. Under your new asset display, click Matches. The system will show you the assets listed by other memberes that are most closely matching your exchange preferences.
Q: How do you check credibility of AssetFair members?
AssetFair™ enables rating of its members by other users who have had experience with these members and/or their listed products. Your performance will be judged by promptness of communications, accuracy of listing information etc. where the other members will rely on your abiding by AssetFair Rules. Read the Membership Rules and Use Guidelines at About Us - Policies - Membership Rules.
Membership in AssetFair ™ is FREE. When you sign up, you will be asked to review and consent to the Terms of Use and Privacy Policy. It is suggested that you enter your billing and payment information, although this data will not be needed until you list an asset and/or debt, which is subject to charge (see List Your Asset for current listing rates). Your Private Information shall be protected according to the published Privacy Policy.
Any registered member of AssetFair(tm) can make cash bid. You need not have any current assets listed and making offers or cash bid is free. Once you are in Asset Deatil of any listing, use the Bid Cash field. When you make a Cash Bid, it will be compared to the Cash Reserve the owner has set for the listed asset. You will be prompted when your bid is below the owner’s minimum required as Cash Reserve. Making Cash Bids in bad faith may result in your negative rating and/or expulsion from AssetFair membership.
You can also contact the owner by using the Ask Owner a Question field.Your corerspondence with the Owner will be kept confidential. AssetFair does not disclose members' emails; you can request direct contact from the Owner by asking him so in the communication process on AssetFair.com.
If you receive any offer or a cash bid, it will appear on the Asset screen under Manage My Listings for each of your assets. You will be also notified of the offer by email, at the address you have registered. As an AssetFair member in good standing, you have 5 business days to respond to any offer received (select Accept, Consider or Dismiss in the View Offer detail).
To facilitate an actual exchange or sale of assets, AssetFair™ is offering various tools, from a sample of an Exchange Contract to legal, escrow and other services (see the Tools menu). AssetFair™ allows providers of the Tools to post their services on AssetFair website for your convenience. Providers of these services are third parties and the Owners of ASSETFAIR DO NOT ENDORSE ANY OF THE SERVICES OFFERED BY THIRD PARTIES. AssetFair™ are not liable for any damage, material or immaterial, which may be caused to any Member by using or interpreting the services offered by providers of Tools or any advertisers on AssetFair website.
Q: How do I actually exchange asset for asset?
The purpose of AssetFair™ website is to locate parties interested and willing to buy, acquire in exchange or refinance assets listed by AssetFair™ members. Making an offer on AssetFair™ or accepting an offer on AssetFair™ is a commitment by the member to work with the other party in diligence in order to consummate the transaction on agreed terms.
Q: How do I assess value of my asset?
Provide your good faith estimate of today's market value of the listed asset and enter it as Asset Value in the listing menu. Account for appraisals or comps if available. Enter amount in US $ only, no decimal points. For currency conversion, go to Tools-Calculators.
Q: What is Exchangeable Equity?
Also referred to as EE, Exchangeable Equity is equal to your equity in the listed asset (after encumbrances) - see Asset Value - minus any amount you request in cash. AssetFair uses EE in its search for Matches (suggested exchange opportunities).
Q: What is 3-D Exchange?
Unlike other trading, barter or swap websites, AssetFair includes a unique program that caters both to seekers and providers of financing of listed assets.
