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selling a mortgage
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Online Quote Request

 

The Selling Process- The most common steps involved in selling owner financed Notes and mortgages in chronological order:

What's the process For Getting A Quote to Sell My Mortgage Note?

  • Contact a reputable note buyer to request a quote on your seller financed income stream. Be sure the buyer is a) Professional, b) Curteous, c) Available or returns calls promptly, d) Sounds like they know what they are doing and e) Doesn't use high pressure sales tactics.
  • Don't be shy about asking questions. If the mortgage buyer sounds uneasy or worse yet irritated by your questions, move on.
  • When selling a note, be prepared to provide the purchaser with the following (Have this information at your finger tips when you call.):
    • The Date the property was purchased
    • The Purchase price
    • The Amount of Down Payment
    • The Date of the First Payment
    • The Amortization period
    • The Baloon date if there is one
    • The Monthly Payment Amount
    • Credit Scores on all Borrowers
    • Whether you have documents proving when all payments were made
    • The Number of Payments remaining (Easily calculated)
    • The Current Note Balance (A competent buyer can calculate this for you if need be.)
    • The Type of Property
    • Whether the property is Owner Occupied or not
    • The Note's Security Type (Deed of Trust, Mortgage, Land Contract, Contract for Deed, etc.)
    • Do you have a Title Policy
    • Your best estimate (Be realistic) of the property's current value
    • What your goals are, i.e. All Cash for the entire note, Sell a portion of the payments,
    • Any special information that the buyer might want to know about the property
    • Your Contact information

For more information, see our note selling page or for information.

Call 7 Days A Week For Great Pricing! You'll Be Glad You Did.

1-877-655-5625

 

 


sell a mortgage


Once You receive A Quote that is acceptable to you, following are a list of documents you will typically need to provide the buyer.

  • A Copy of the original note with signatures
  • A Copy of the settlement statement (Form HUD-1)
  • An amortization schedule (reflecting each payment if possible)
  • An old appraisal if you have one
  • Borrower information in order to pull credit (For some purchasers this will be included in part 1 above in order to receive a quote)
  • A copy of your title insurance policy if you paid for one
  • Proof of all payments made by the borrower

For information on how a notes buyer prices a mortgage, go to notes buyer. For questions call us at the number below.

Call 7 Days A Week For Great Pricing! You'll Be Glad You Did.

1-877-655-5625

 


private mortgage buyers






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