Steps involved in the selling process for mortgage

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hello are you receiving payments on a private mortgage note and wondering how to get top dollar if so you're in the right place but first let's look how most privately held notes are created in the first place if you're like most people you sold a property to a private party instead of them getting a traditional bank loan you accepted terms where the buyer pays you every month you might have done this because it was the easiest way to sell the property get full value or the buyer could not qualify for traditional bank financing whatever the reason you're not alone roughly six percent of all real estate transactions involve some sort of owner financing people like yourself sell houses commercial buildings land even businesses with owner carryback financing now that we've established how you might have a note let's talk about how you can cash out and get top dollar there are many reasons people sell their note you might have never wanted to take a note back in the first place you may not like your money tied up in a long-term payment plan you might worry about what happens if the payer misses the payment or stops making payments altogether or you just might have a better use for the money like a new car family vacation bills college education or another investment whatever the reason receiving a lump sum of cash even at a discount may go a long way to getting you what you need or want today if you want to sell your note an investor must determine the fair market value of the cash flow there are several things a funder must consider when evaluating a note the primary factors that affect pricing are the value of the property how much the buyer put down the payer's credit history the payment record and the interest rate charged on the note the great thing about selling a note is unlike a traditional bank every category does not need to be perfect we just need a few things in line to cash you out and take over collecting the payments and the risk matter of fact there are many ways to purchase a note some people only sell part of a note receiving money now and money later there's no charge to find out what your note is worth and don't let anyone tell you otherwise so what's next well it would be a good idea for you to locate two pieces of paper one is the promissory note itself the promissory note is signed by the payer it's like an iou or a signed check you want to make sure it's kept in a safe place the next item is the closing statement it will show the property address and the sale information including the down payment additionally if you have an outside servicing company collecting the payments for you they can print a record of when the payments have been made that's it our company provides a free note evaluation and your information is always confidential we are happy to help you in any way we can just reach out to us using the contact information below this video we look forward to working with you you