What’s Involved When You Sell A Note

2014 May 12

The process of selling an owner financed real estate note is pretty simple. You first request a quote from us. If you like the quote, you provide us a copy of the note, mortgage or deed of trust and borrower information. We then pull credit on your borrower to see if it works with our quote. We then order an appraisal or BPO (Realtor estimated value). If the value is sufficient, we then order title and then close by overnight delivery. The whole process can take 2 to 3 weeks. You can also sell a commercial note. The process is similar, although we generally close commercial notes much faster. Call us at 1-877-655-5625 for a quote to sell a note.

You also can sell a partial note where you can sell a certain number of payments. This usually is a better deal, particularly on notes with long amortization periods (25-30 years). In these partial note purchases, note buyers take possession of the note (original) and security (Deed of Trust or Mortgage). Once the payments purchased are satisfactorily made, note buyers turn the note back to the note seller.

Lastly, we are land contract buyers. So if you need to sell a land contract, we can help. 1-877-655-5625. Ask for Ron.

 

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