2007-05-14 13:13:35 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Liquid assets are those things that can readily be converted into cash. These include saving accounts, checking accounts
2007-05-14 13:18:52 · answer #1 · answered by ttpawpaw 7 · 1⤊ 0⤋
A liquid asset when doing a home loan is somthing tangable that can easily be turned to cash, such as a paid off car, an expensive T.V. it has to be somthing of "value" when i say value it needs to be expensive, the best example would be a car,
2007-05-14 13:20:41 · answer #2 · answered by Anonymous · 0⤊ 1⤋
ttpawpaw is right. A liquid asset means you can turn it in to cash quickly. Cash is liquid. Accounts at banks are liquid. As are stocks and mutual funds.
Items such as real estate, cars, jewelry, boats, etc. are not liquid. Sure, they have value, but to turn them into cash at their full value, you have to advertise, find a buyer, perhaps file legal documents, etc. Of course you can find a place to get cash quickly for them (such as a pawn shop) but then you won't get their full value.
2007-05-14 17:24:42 · answer #3 · answered by BigBrain 2 · 0⤊ 0⤋
liquid assets + cash on hand and in banking institutions.
2007-05-14 13:21:02 · answer #4 · answered by ticketoride04 5 · 0⤊ 0⤋