Sell your real estate note fast!
The best way to sell your real estate note fast is make sure that you have all your documents together (in your hand) when you approach us or another mortgage note buyer.
As mortgage note buyers, we need to conduct due diligence to make sure that we give you our best offer. This will involve checking the credit report of the borrower, documenting the actual payments made, conducting an appraisal on the property and having a title company verify the title. When these activities are completed, our mortgage note buyer will prepare the closing package for your signature.
The appraisal and title work will be handled by outside institutions local to the property. This activity should take somewhere between 2 and 3 weeks depending on the workloads of these institutions. We cannot spend our money on due diligence until we have verified the information that you supply us.
If you want to sell your real estate note fast, make sure you have all your documents together when you approach our mortgage note buyers. The faster you provide the note buyer with the requested documents, the faster you’ll receive your funds
To expedite the time is takes to close a note purchase make a sure you have your real estate closing documents.
1. Closing or settlement statement… This allows us to verify the date of the sale, the sales price and the down payment. It also gives us the name(s) of the borrower(s), their address(es) and the address of the property. This will allow us to quickly verify borrower details and order the appraisal.
2. Copy of the promissory note… this allows us to verify the terms of the note and confirm when the first payment was due.
3. Pay history… if you have a performing note, pull together the last 6 payments. This proof normally will be provided by copies of the payment checks or redacted bank statements. If the borrower has late payments, we ask for proof of more than 6 payments. fi you want to sell you real estate note fast, be sure to have your payment proof ready.
4. if your real estate note is for a residence or a commercial building, we’ll need to see a copy of the hazard insurance policy naming you as a loss payee or additional insured.
5. If you have title insurance from the sale, please provide a copy of your policy. Normally this will reduce the time required for the title company to do its title search.
6. if the lending entity is a corporation or an LLC make sure that you also have the organizations documents and amendments.
If you want to sell your real estate note fast, I can’t emphasize enough the importance of having all your documents together.
We have been buying real estate notes for over 30 years and we have purchased and funded mortgage purchases within two weeks when the note seller has provided a complete package and there were no difficulties to overcome. Normal closing time is 4 weeks to a month.
We pride ourselves on customer service and even with difficult notes, we will find a way to buy them. Check out what others have had to say about dealing with us here.
You can also see that we’ve handle many difficult situations by checking our Google 5-Star reviews here.
We are here to serve you. To get started, please fill out the form on our homepage by clicking here. Or call us at 772-232-2383.
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