Most of the information we require is stated on the documents you should already have in your possession regarding the sale or financing of your property. Please be VERY SPECIFIC and provide us the EXACT information requested, particularly dates and figures. After we have evaluated the details of your transaction, we will present you an extremely generous CASH offer and we will also pay for all closing costs, (except commercial appraisals), so you won’t have any out-of-pocket expenses. The more information you can provide will allow us to make the absolute highest maximum CASH offer possible, and that means MORE MONEY in your pocket!
How To Find Note Buyers
There are simple truths surrounding owner-financed notes that should be revealed. Too many people leave money on the table through lack of knowledge. Worse yet, others prey on their lack of information.
Real estate investor Don Tepper of Solutions 3D LLC says, “There are actually dozens of other ways to buy: lease-option, lease-purchase, land contract, contract for deed, equity sharing, wrap mortgages – and the list goes on and on. Most buyers, and most real estate agents, don’t know how any of these work.” (To learn more about lease options, lease purchases, and other options, read Rent To Own, Own To Rent and Rent-To-Own Real Estate Full of Pitfalls.)
Buyers Note To Seller
Notes are usually sold at a lower value than the property’s real value, and the monthly payment for the note has a higher accumulated value. It works just like a loan, where interest is paid to the borrower.
Your note may be in the form of a: Contract for Deed; Deed of Trust; Real Estate Contract; Land Contract; Mortgage; Deed to Secure Debt; Indenture, depending on the state the property is located in. We are experienced purchasers in all states, so you can sell any of these instruments to us.
A seller might be willing to finance property for a variety of reasons. Perhaps the buyer or the property has difficulties qualifying for traditional bank financing, the seller desires long term interest income, or the seller plans to maximize the selling price by offering easy terms. The seller now holds a note and is entitled to a future payment stream.
When an individual or privately owned company sells property and allows the purchaser to make payments over time, rather than obtaining a traditional bank loan, it is commonly referred to as a private note, seller financing, an owner carry-back, or private paper.
Seller financing (or owner financing) is a transaction where the property is sold, and the owner/seller is also the lender, meaning that there aren’t the associated costs and points of having a bank involved. That’s how seller financing (when executed properly) can work so well for buyers and sellers both. In a down market, sellers want to get the best price for their property, even as credit markets drive prices downward and make it difficult for the seller to profit. As a result, many sellers are turning to seller financing to see things go the way they want them. Things get complicated, though, when sellers aren’t familiar with the fine points of seller financing (the oldest form of lending), or how to implement it. This is where Texas Note Company can be a big help.
Note Buyers In Texas
Buyers who are looking for seller financing could try just asking for it. Todd Huettner, a mortgage broker and the president of Denver-based Huettner Capital, says, “The secret to getting owner financing done is to present it correctly. Rather than asking if owner financing is an option, buyers should present a specific option. For example, ‘My offer is full price with 20% down, seller financing for $350,000 at 6%, amortized over 30 years with a five-year balloon. If I don’t refinance in two to three years, I will increase the rate to 7% in years four and five.'”
Our main concern is getting you the maximum amount of CASH you need right now in the fastest way possible! At Big Sky Financial Network LLC, we are fast, fair, and friendly, and specialize in quick, confidential closings. We have lots of experience and have been meeting our customer’s needs since 1994. We do business honestly and fairly, and you will be treated with compassion and respect. Contact us today! You’ll be really glad you did!
At Diversified Investment Services, Inc. we purchase notes secured by property within the State of Florida. We also provide training and resources for the note business based on two decades of individual experience. If you would like to learn more we invite you to visit Note Industry Resources and NoteInvestor.com!
You may rest assured, the borrower (party making the payments) experiences no change in the way the mortgage instrument. The only change for your payor is that they will send the same mortgage monthly payment to a different address. Because we use our own investment funds, we can offer to you the maximum cash out on the sale of your mortgage or annuity.
Instead of having to meet a bank or government-mandated minimum, the down payment amount can be whatever the seller and buyer agree to. This does not necessarily mean that the seller will accept a down payment that is lower than what the buyer would be required to pay elsewhere, but it’s always a possibility. (You might want to check out 4 Alternatives To A Traditional Mortgage.)
But according to Robin Daniels, a real estate investor and landlord in Central Florida, “Many sellers are afraid of selling with owner financing but do not know that the note they hold is something that can be sold to someone else. This could happen the same day as closing, so the seller gets cash right away.” In other words, sellers don’t need to have the cash, nor do they have to become lenders.
San Antonio Texas Note Buyers
In other words, seller financing doesn’t just benefit buyers who don’t qualify for (or don’t want) traditional financing. It also benefits sellers, especially those who are particularly motivated to sell their homes.
The note industry is a legitimate business that provides a useful service and the opportunity to make money. But like all businesses it takes hard work and know-how. Unlike some may claim, there is no path to overnight riches!
Typically, it takes between 2 and 3 weeks to close a transaction, so if you see promises that a company can close a transaction in 10 days, they really mean 10 business days, which is 2 weeks! Don’t be fooled by “big company” ads or commercials — the bigger the company, the bigger the overhead, and I guarantee they will pass their exorbitant expenses on to you! Also, beware of the “late-night infomercial graduates” as they are inexperienced and will likely waste an enormous amount of your time and resources.