How would you sell a mortgage note to the best Florida note buyers? The first step is to find the best Florida note buyers.
You need to look for an investor who is sincerely interested in you and in helping you solve your problem… someone who knows that if he treats your fairly and “goes the extra mile for you”, he ‘ll be compensated fairly. Great idea, but how do we do that?
Google the internet. Look at the Google reviews for the best Florida note buyers and spend time on the websites of those Florida note buyers. These Google reviews are very helpful in finding reputable, reliable, experienced top mortgage note buyers.
Find referrals. Talk to friends and family to find out who has sold a private mortgage note… in other words, talk to previous note sellers. What was their process like? Would they sell again to the same note buyer? Here is what one FL note seller had to say about dealing with us…
“Solved Problems!”
“The transaction was handled very well. We appreciate the way you were able to overcome the problems, particularly the lack of cooperation of the payor. We were very satisfied with the outcome.“
The next step in finding out how to sell a mortgage note to the best Florida note buyers is to talk with several Florida note buyers. This is important as you want to do business with someone whom you know, like and trust. You can learn a lot about a note buyer in a free and easy discussion… as we all know when we are dealing with someone who is more interested in his pocketbook, then he is with us. Obviously, you want to avoid a note buyer with this attitude.
When you talk with note buyers, be sure to have your documents with you so you can discuss the real estate note in detail.
Which documents should you have? Try to have all relevant documents, but at least the closing statement and promissory note. Be prepared to give your Florida note buyers, the date of sale, the sales price, the down payment, and the terms of the promissory note.
It would also be a good idea to have the payment history with you. Have the borrowers made all payments on time? If not, what is the current unpaid balance?
In your discussions with note buyers, it would be helpful to know how the value of a Florida mortgage note is determined.
For an investor, purchasing a real estate note is a risk-reward business. Therefore, the best Florida note buyers will pay more for real estate notes with less risk.
How is risk determined? The performance of your borrower in making timely mortgage payments is especially important. If he/she is consistently late in paying your trust deed and other bills it makes your real estate note a riskier investment. The more the payor has at risk i.e., the more equity he has, the less risky your real estate note is for Florida note buyers. For an accurate purchase offer, your note buyer must have an accurate understanding of all the factors in your real estate transaction.
How have your borrowers handled their other financial obligations? So, in addition to the borrower’s performance on your mortgage note, we will pull a “soft” credit check through a credit bureau…. which will not affect your borrowers’ credit score.
In addition to the credit performance of your borrowers, which includes their performance on your mortgage note, we will evaluate other risk factors. These factors include the borrowers’ equity position in the property, the length of time that the note has been in place and the terms of the note.
When looking to sell a mortgage note to the best Florida note buyers, how can you receive the most money? You may be better off financially by selling some of your mortgage note now and some later. Make sure that your Florida note buyers discusses this option with you in detail.
As mentioned earlier, the value of your real estate note is determined by how much risk the investor must take on. The less risk he must take, the more he would be willing to pay.
If you want to sell a mortgage note to the best Florida mortgage note buyers, the first critical decision for you is to find a note buyer who will treat you like a member of their family.
American Funding Group is one of the best Florida note buyers and we want to earn your business. Please check our referrals here and/or you can check our Google reviews here. See that we pride ourselves in helping notes sellers, like yourself, solve whatever problem they have so they can receive the maximum from the sale of their mortgage note.
If you want to free up cash in any real estate note you own… we will help! If you’d like to speak with someone before submitting your note information, just give us a call today at (772) 232-2383. Or check out our mortgage note buying process here.
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