CrowFly’s buyer network includes both everyday individual investors and institutions looking to purchase the rights to future structured settlement payments. (To learn more about why people buy these assets, click here.) Before getting access to our platform to view available assets, prospective buyers must undergo our vetting process. The process begins by signing up to be a buyer online or by calling CrowFly.
Prospective buyers who sign up on our website will need to complete the buyer intake wizard, which asks for the following information:
- Contact information
- Interest and goals for joining CrowFly’s platform
- Acknowledgment statement signature
CrowFly receives a notification immediately after a person completes and submits the buyer intake wizard. Our team will review the information provided by the prospective buyer, and if the answers meet our vetting criteria, we will approve them to be an active buyer on our digital platform. If information is missing or something looks incorrect, we will reach out to follow up. The prospective buyer will be asked to make any needed corrections, re-sign the assent, and submit again.
When a prospective buyer calls CrowFly to sign up, we’ll ask questions involving:
- The type of payment stream and duration they are looking for.
- If there is a certain yield they want from a secondary structured settlement annuity. Our annuities yield between 3.5% and 5% annually.
- Whether they have the means to purchase a payment stream and what they are looking to spend per annuity.
- Their annual investment budget and net worth.
Once we approve a buyer, he or she will have access to view the active listings in our online portal. When an active buyer sees an available asset on our listing page and is ready to purchase it, he or she may view additional details by clicking on the listing. (The available details do not include the seller’s personal information). If it’s the right choice, the buyer may begin the process of purchasing the payment stream.
Using The Purchase Wizard
Once a buyer clicks the Purchase Asset button, they will be prompted to complete the purchase.
This process asks the buyer to:
- Provide a signature affirming the intention to purchase the asset.
- Upload proof of funds to confirm they can execute this transaction.
- Upload photo identification, such as a driver’s license or passport, so our team may perform a background check.
CrowFly receives a notification once the purchase application has been submitted. Then, a member of our team will begin reviewing the information and perform the necessary verifications. Once the verification process is approved, our team will approve the purchase application. The transfer of rights to the future structured settlement payments may then proceed.