Real Estate Promissory Note Template Form

I'm trying to figure out what you're actually asking. A promissory note from a plan to you means that the plan has borrowed money from you. Is that what you're proposing to do? If so, WHY? You'd be subjecting yourself to penalties that would wipe out any profit that you might make — and then some — for no reason that I can think of.On the other hand, if you misspoke and you meant that you'd borrow money from the plan (and you'd give a note to the plan) then th o the extent that it's permitted under the plan-loan rules you'd be okay, but if you're thinking of a noncompliant loan (over $50k, over 5 years, etc.), then it's even worse than the other one, because you'd also be subject to tax and penalty on the amount of the loan (and still have to pay it back). You're much better off just taking the money out, if you're allowed to do so.Your best choice, however, is leave the 401(k) alone and get the money elsewhere.

There is a market to sell privately held mortgages and other similar types of instruments. I owned a company that specialized in that.Most commonly private mortgages are sold at a “discount”, ie. something less than the face value of the note. Often there are many options with many intricacies. For example you could sell the payments and keep the balloon payment. You could sell half the payments and retain half for yourself. You could sell a note in “installments” receiving lump sums periodically.It is almost impossible for a layman to evaluate and compare the various options in a way that makes sense.While selling real estate “on terms” i.e. providing private financing can help facilitate making a deal, if your intent is to ultimately cash that financing in you should know what kind of discount you’re looking at before you do the deal so that you’re not basing the deal on unrealistic expectations.Finally, for me owning real estate debt is about as good as it gets. It is a secured investment with mostly interest paid. Cash flow is king and secured cash for is the )&(*!!!!

I would suggest that you inform the person he has x days to pay you back and if he fails to do so, I would either retain a lawyer and sue, or if the amount is below the maximum in small claims court, I would file a suit there.  Then, however, you will still have to go through the process of collecting the money. You will be able, with a verdict, to get a certain amount of information as to assets. In some states, you can attach wages based on a civil verdict. In some states (such as mine) you cannot, unless it involves family law or the government.Good luck.If you require legal assistance, please contact a lawyer in your jurisdiction for help. Do not act or refrain from acting based on what I write on Quora. While I am an attorney, nothing I write here is legal advice. Nor does any communication here form an attorney/client relationship with me.Quora users who provide responses to legal questions are intended third party beneficiaries with certain rights under Quora's Terms of Service (http://www.quora.com/about/tos).

NOOOOOOO. You are talking to a military romance scammer. I received an email from the US Army that directly answers your question that is pasted below please keep reading.I believe you are the victim of a military Romance Scam whereas the person you are talking to is a foreign national posing as an American Soldier claiming to be stationed overseas on a peacekeeping mission. That's the key to the scam they always claim to be on a peacekeeping mission.Part of their scam is saying that they have no access to their money that their mission is highly dangerous.If your boyfriend girlfriend/future husband/wife is asking you to do the following or has exhibited this behavior, it is a most likely a scam:Moves to private messaging site immediately after meeting you on Facebook or SnapChat or Instagram or some dating or social media site. Often times they delete the site you met them on right after they asked you to move to a more private messaging siteProfesses love to you very quickly & seems to quote poems and song lyrics along with using their own sort of broken language, as they profess their love and devotion quickly. They also showed concern for your health and love for your family.Promises marriage as soon as he/she gets to state for leave that they asked you to pay for.They Requests money (wire transfers) and Amazon, iTune ,Verizon, etc gift cards, for medicine, religious practices, and leaves to come home, internet access, complete job assignments, help sick friend, get him out of trouble, or anything that sounds fishy.The military does provide all the soldier needs including food medical Care and transportation for leave. Trust me, I lived it, you are probably being scammed. I am just trying to show you examples that you are most likely being connned.Below is an email response I received after I sent an inquiry to the US government when I discovered I was scammed. I received this wonderful response back with lots of useful links on how to find and report your scammer. And how to learn more about Romance Scams.Right now you can also copy the picture he gave you and do a google image search and you will hopefully see the pictures of the real person he is impersonating. this doesn't always work and take some digging. if you find the real person you can direct message them and alert them that their image is being used for scamming.Good Luck to you and I'm sorry this may be happening to you. please continue reading the government response I received below it's very informative.   You have contacted an email that is monitored by the U.S. Army Criminal Investigation Command. Unfortunately, this is a common concern. We assure you there is never any reason to send money to anyone claiming to be a Soldier online. If you have only spoken with this person online, it is likely they are not a U.S. Soldier at all. If this is a suspected imposter social media profile, we urge you to report it to that platform as soon as possible. Please continue reading for more resources and answers to other frequently asked questions:  How to report an imposter Facebook profile: Caution-https://www.facebook.com/help/16... < Caution-https://www.facebook.com/help/16... >   Answers to frequently asked questions:  - Soldiers and their loved ones are not charged money so that the Soldier can go on leave.  - Soldiers are not charged money for secure communications or leave.  - Soldiers do not need permission to get married.  - Soldiers emails are in this format: john.doe.mil@mail.mil < Caution-mailto: john.doe.mil@mail.mil > anything ending in .us or .com is not an official email account.  - Soldiers have medical insurance, which pays for their medical costs when treated at civilian health care facilities worldwide – family and friends do not need to pay their medical expenses.  - Military aircraft are not used to transport Privately Owned Vehicles.  - Army financial offices are not used to help Soldiers buy or sell items of any kind.  - Soldiers deployed to Combat Zones do not need to solicit money from the public to feed or house themselves or their troops.  - Deployed Soldiers do not find large unclaimed sums of money and need your help to get that money out of the country.  Anyone who tells you one of the above-listed conditions/circumstances is true is likely posing as a Soldier and trying to steal money from you.  We would urge you to immediately cease all contact with this individual.  For more information on avoiding online scams and to report this crime, please see the following sites and articles:   This article may help clarify some of the tricks social media scammers try to use to take advantage of people: Caution-https://www.army.mil/article/61432/< Caution-https://www.army.mil/article/61432/>   CID advises vigilance against 'romance scams,' scammers impersonating Soldiers  Caution-https://www.army.mil/article/180749 < Caution-https://www.army.mil/article/180749 >   FBI Internet Crime Complaint Center: Caution-http://www.ic3.gov/default.aspx< Caution-http://www.ic3.gov/default.aspx>   U.S. Army investigators warn public against romance scams: Caution-https://www.army.mil/article/130...< Caution-https://www.army.mil/article/130...>   DOD warns troops, families to be cybercrime smart -Caution-http://www.army.mil/article/1450...< Caution-http://www.army.mil/article/1450...>   Use caution with social networking  Caution-https://www.army.mil/article/146...< Caution-https://www.army.mil/article/146...>    Please see our frequently asked questions section under scams and legal issues. Caution-http://www.army.mil/faq/ < Caution-http://www.army.mil/faq/ > or visit Caution-http://www.cid.army.mil/ < Caution-http://www.cid.army.mil/ >.  The challenge with most scams is determining if an individual is a legitimate member of the US Army. Based on the Privacy Act of 1974, we cannot provide this information. If concerned about a scam you may contact the Better Business Bureau (if it involves a solicitation for money), or local law enforcement. If you're involved in a Facebook or dating site scam, you are free to contact us direct; (571) 305-4056.   If you have a social security number, you can find information about Soldiers online at Caution-https://www.dmdc.osd.mil/appj/sc... < Caution-https://www.dmdc.osd.mil/appj/sc... > . While this is a free search, it does not help you locate a retiree, but it can tell you if the Soldier is active duty or not.  If more information is needed such as current duty station or location, you can contact the Commander Soldier's Records Data Center (SRDC) by phone or mail and they will help you locate individuals on active duty only, not retirees. There is a fee of $3.50 for businesses to use this service. The check or money order must be made out to the U.S. Treasury. It is not refundable. The address is:  Commander Soldier's Records Data Center (SRDC) 8899 East 56th Street Indianapolis, IN 46249-5301 Phone: 1-866-771-6357  In addition, it is not possible to remove social networking site profiles without legitimate proof of identity theft or a scam. If you suspect fraud on this site, take a screenshot of any advances for money or impersonations and report the account on the social networking platform immediately.  Please submit all information you have on this incident to Caution-www.ic3.gov < Caution-http://www.ic3.gov > (FBI website, Internet Criminal Complaint Center), immediately stop contact with the scammer (you are potentially providing them more information which can be used to scam you), and learn how to protect yourself against these scams at Caution-http://www.ftc.gov < Caution-http://www.ftc.gov > (Federal Trade Commission's website)

This is almost precisely what the business of a bail bondsman is. You pay the bondsman a fee and he pays the bond for you. If you fail to appear, the bondsman will go after you for the forfeited bond.The court will typically not accept an unsecured note in lieu of cash, but the court may accept a secured note backed by reasonably negotiable properties, such as real estate or marketable securities, in lieu of cash bond. The purpose of bond is to ensure the appearance of the defendant at trial, by making failure to appear expensive. Accepting an unsecured note does not serve this purpose.

Majority of the investments are driven byLogicMarket SentimentsLikely future eventsIn a nutshell I would like mention that do NOT buy real estate for the next 9 to 12 months AT LEAST. Whatever be the situation. If you have the patience and an open mind, please continue to read.9 Major Reasons to postpone buying Property :Real estate in the primary market was driven largely by unaccounted cash which is now worthless. Due to this there would be a slowdown in the completion of projects. However builders will need to complete the projects within a stipulated time as RERA (Real Estate Regulations Act) would be enforced by March 2017. Remember majority of the houses in a under-construction property belong to Investors (More about investors in the later points). Due to this there would be an oversupply of houses as several of the stuck projects WILL NEED to be completed., failing which the builder can be imprisoned and / or heavily penalized.Due to the demonetization people are careful / frugal in spending. In general the sentiment would continue to be negative as people would shun making major decisions on buying real estate. Forget real estate, it is expected that White Goods such as TV, Fridge and AC would be sold at a heavy discount of about 20% to 30% from January 2017. Hence no major buying is expected for at least 6 to 12 months in the already suffering real estate sector. Due to this the prices for real estate would witness a downward spiral as there would be inventory build-up.The real estate sector which is already stressed especially in NCR and parts of Maharashtra including Mumbai and Pune as well as Goa would see further negative impact and would be impacted the MOST. One could easily expect a correction of around 40% with a minimum correction of 30% in most of the regions. Real estate markets in places such as Bangalore and Hyderabad which witnessed boom due to salaried class will be impacted - but not much.Several builders will need to complete projects on time as per RERA. For this they will need to liquidate their assets - existing flats or properties - at a discounted rate as general public has gone into SAVINGS mode. If dealing directly with a builder - one could expect HUGE discounts - anywhere between 30% to 40% on the last reported price of October 2016. This situation would come in around January 2017 and is likely to stay the same for a good part of the Calendar year 2017.The secondary market which is resale of properties - which was dependent on Investors - would also see a correction of about 40%. This is primarily because the cash to cheque ratio in the secondary market has been 30:70 (more in some other places). Moreover many of the Investor flats - in completed projects (estimated at about 30% of total inventory) are empty and are now likely to be liquidated. There would be a situation of oversupply and falling prices. Unless one gets a discount of 30% minimum over the last reported prices, one should not go for buying as this could be a HUGE RISK.Trump victory in US has ensured high bond yields. Due to this several global investors will pull their money out of India thereby impacting Equity (short term) and Real Estate (short to long term). Equity, which is relatively liquid as compared to Real Estate, is already witnessing outflow of foreign funds. With falling Oil prices, the middle East investment in India has already slowed down. Majority of the investment by HNIs and NRIs as well as Real Estate firms of the middle-East were in Real Estate in India. As witnessed already in the last 2 years, Mumbai has seen commercial properties prices coming down and may seen further revision in the next 12 months. However the residential sector would be impacted more than the commercial sector.Action against BENAAMI properties - the next likely step by the Government - will lead to oversupply in the housing sector. Strict action is expected against BENAAMI property owners. In such a scenario the owners of such properties would prefer foregoing of properties. This would be similar to people foregoing their currency notes in Dustbin or Burning them or donating in the river. Such properties would be auctioned off at competitive prices. Majority belongs to Netas and builders., thereby adding to inventory as well as adding to builders’ woes.Mr. Modi personally comes from a humble background and understands the hardships of common man. In the next 12 to 18 months the real estate would have hit rock bottom thereby enabling common man to buy a home - Housing for ALL - another one of Modi’s dream. This would be just in time for next elections as the process could take 24 months or so. This would also enable Mr. Modi to win the next elections comfortably.If you come across agents or builders who say RERA also introduces taxes which would be passed on to the consumer thereby increasing prices post February 2017, do not fear, this is an old tactic to induce fear and results in panic buying. In the present situation a builder has no option but to make a sale. While the consumer has an option to stay in the existing place - whether rented or owned. The only silver lining is that Property rentals would see a slight upswing when the economy improves about 6 months down the line. If one is looking to sell a property one should do it NOW as it is going to be a BUYERS MARKET for the next few years.UPDATE OF 28TH NOVEMBER 2016As mentioned in point 6. above., Foreign investors have started pulling their money out of India (check the news link below). Slowly and steadily real estate will come down. Wait and Watch for 3 months., markets in NCR, Goa and Pune to be the WORST AFFECTED.Rupee hits a new 2016 low as foreign investors pull out $ 5 bn in Nov

Not to my knowledge. In my area, the way Zillow works is it pulls listings from the MLS (multiple listing service) unless I check a box that says the seller prohibits this. So it’s no more work for me to list your property on Zillow than in the MLS. Zillow sells real estate agents “leads” (queries about specific properties) or (in a new program) takes a % of the brokerage fee after a property has closed. Contacting agents online is free to both parties.

I won’t recommend you to drop out of college to get into real estate. It is good that you are passionate and it will pay off in the long run.The question you asked as to how much an agent makes in California, well in California or anywhere in the world it is somewhat the same. Agents get what they are passionate about. The more effort you put in the more you are going to get.There is no fixed salary and you will get a commission for every successful transaction.Let’s get into everything you need to know about real estate commission.So, sales commissions are important to real estate agents. That’s how they put the bread and butter on the table for their family as they don’t get a regular paycheck at the end of the week or month for their services. The amount of commission they get is tied to the property price and these agents, at least the good ones, are bound by ethical commitments to do everything they can to help their clients. Unfortunately, not all agents are willing to go an extra mile to provide better services to customers and because of that the consumers, especially millennials, have started asking if the services provided by agents are truly worth it.Great real estate agents are truly worth their commissions. Investing in the right agent means that you won’t be making the rookie mistakes costing you money, time, and most importantly peace of mind. Agents take care of numerous things during a transaction to ensure that the deal is closed and is favorable for buyer or seller, depending on who they are representing. Coordinating with service providers affiliated with the transaction such as inspectors, lenders, and surveyors; repairmen hired to make the property transferable, and landscapers preparing the property for a showing or open house are a few things that they will have to tackle to earn their commission. But let’s see if the commission you pay them is that big of a deal.Breakdown of Real Estate Agent CommissionThe commission is a certain percentage of the sale price that goes to real estate agents involved in the process. It can be anything from 1% to 6%. This percentage is negotiated between the homeowner and the real estate agent at the time of listing. Usually, the commission is paid by the seller rather than the buyer. However, in some cases, buyers also agree to pay their agent for representation and advocacy to receive better services.The commission is what drives agents to do more for clients. Some agents might lower their fee to get the listing, but the services they provide will be in line to what they get at the end. The size of the commission is usually dictated by local custom, and is a set percentage of the sales price of the property being sold, regardless of the work performed and the ease or difficulty of the personalities involved or the complexity of the deal.Agents have tons of expenses that they have to incur just to be in this profession and stay competitive. These expenses include license fees, MLS dues, National Realtor fees, phone, traveling, training and so on. To get a customer, they first have to invest in marketing their services from their own pockets, which means printing flyers, website hosting, email software, calling software, CMAs, etc. Some agents also hire an assistant to make the real estate journey smoother for their clients.Complexity of SaleSome real estate transactions are straightforward. Some are not. The commission you pay to your agent does not take into account the personalities of people involved in the process or the complexity of the sale. Buyers and sellers often don’t realize that just like the process is taxing for them, it might be the same for agents. Because agents do this for a living, having a good agent on your side would save you much frustration in the buying or selling process. The primary motivation for agents is always the commission they would get; that’s the fuel which drives them to do more for their client. Negotiation with agents on the commission is fine, but at a certain point getting them to drop their commission even lower would hurt you instead.No Sale, No CommissionAgents don’t get paid for the hours they put in. Their efforts to buy or sell the property and the time they spend with you means nothing in monetary terms. It’s only when you find the right house or sell the property that they get paid. Most agents would be as invested in this process as the buyer or seller. Great agents would be able to sell the property for a much higher price than if you tried to sell it yourself and that basically means more money for you, regardless of the percentage of the money you have to pay the agent.Market KnowledgeThis is what you are paying for. Their understanding of the real estate market will help you on your journey to buy or sell a house. You might not know how much your house is worth or how you can add value to it before getting the professional opinion from the agent. From the processes involved in legal documentation, agents can help guide you through that. What’s more is that you can leverage their professional network for various services, like property appraisal, staging, repairs, maintenance, etc.My ThoughtsMoney is what motivates both; people and real estate professionals. The real estate agent commission model might not be perfect but it is one which has served society and the economy, well, almost as long as there have been homes for sale. Until a different way of determining compensation on real estate transactions can be adopted, today’s commission scheme is based on an agent’s commission being calculated as a percentage of the price of the property being sold. You might have had the fortune to work with a great agent or you might have suffered because of a bad one, that’s something which is present in every industry.Sales by real estate agents which are compensated by commissions have a better ROI than sales which have no commission tied to the performance of the real estate agents who have brokered the sales. Money is what makes the world run and the less money you pay to your agent, the less value you will receive. As buyer or seller, you should look for a good agent to represent you but also understand that the commission you pay them will be equal to the value you get through their services.Hope this helped :)

In the United States, a mortgage note (also known as a rEval estate lien note, borrower's note) is a promissory note secured by a specified mortgage loan. Mortgage notes are a written promise to repay a specified sum of money plus interest at a specified rate and length of time to fulfill the promise.

Part IV. (1) A promissory note is an unconditional promise in writing made by one person to another signed by the maker, engaging to pay, on demand or at a fixed or determinable future time, a sum certain in money, to, or to the order of, a specified person or to bearer.

It's not wise to default on a promissory note. ... A promissory includes all the terms of repayment, including the rate of interest, the due date, and the number of payments to be made. This is different from an IO in that an IOU denotes that there is an outstanding debt but does not include the terms of repayment.

Promissory Notes Are Legal Contracts A promissory note or promissory letter is a legal instrument similar in nature to any common law contract. ... In the case of a legal promissory note, the contract will be shaped around the amount of money or capital loaned and the terms of repayment of the promissory note.

Promissory notes may also be referred to as an IOU, a loan agreement, or just a note. It's a legal lending document that says the borrower promises to repay to the lender a certain amount of money in a certain time frame. This kind of document is legally enforceable and creates a legal obligation to repay the loan.