Sell Mortgage Note
or Owner Carried Property Loan
Do you need or want to sell mortgage note paper that you carried? I have a pool of professional promissory note buyers that are waiting for note holders just like you.
Sell your Trust Deed in a professional manner with professional buyers that will evalulate the mortgage you have carried and give you an offer.
You are not obligated to accept an offer. All offers are based on the review and acceptance of all items by both parties.
To Sell Mortgage Note: Some Items include
- Buyer will want to see a copy of the Note - Make sure you have a note rep such as myself to help you do a Non Circumvent agreement before you go disclosing all of your confidential figures and information. You can Contact me here or fill out the below form
A professional Note buyer will verify all of your figures for accuracy
The buyer may request an appraisal paid by them
The investor will usually pay most of the closing costs, but count on some minimal escrow fees from $1000-1500.
They may ask to speak to the payor directly (your loan borrower)
They will want the property address
Keeping a credit history is very important for the payor, this will increase the value of your note if the payor has a great pay record that can be verified
You will get offered a discount for the purchase of the note.
There is no reason for an investor to buy your note if there is not profit for them in it. So why sell mortgage note paper now? To get immediate cash of course. Who is to say you will ever get all of your money?
If you need cash now you can get it, but you have to be willing to deal.
How much of a discount will they offer me?
- How good is your payors credit?
- How many payments are left on the loan? At least 36 is best
- What interest rate did you negotiate?
- is the property owner occupied or tenant occupied? Owner occupied is best because they live there and care for the place and probably will keep paying the payments because it is their home
- is the property commercial? Is it fully leased out?
- If the property is multi family, is it empty or fully rented? How long are the leases? How long have the tenants been there?
Can you realize a pattern here? If you were going to take on someones loan for a profitable portfolio, then you would just like to know the payments will more than likely be made.
If you would like to learn more about buying or selling notes for profit, contact me or click the banner below.
Bankrate - what is a note? Details and examples as well as defining what makes up a note or seller carry deed.
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