If you are asking how to sell a mortgage note to top mortgage note buyers, you have come to the right place. Let’s go over some critical, key factors.
The first and probably the most important factor when you want to sell a mortgage note to is to find an experienced note buyer who is authentic and cares more about you and your problem that he does about getting into your pocketbook. We all know what it feels like when we are dealing with an authentic person, someone we like and who really cares about our situation.
How do you find that experienced top mortgage note buyer? I would check with colleagues and friends to see if you can get a referral from someone that your colleague or friend has done business with. I would also search the web looking at Google reviews and reading profiles of various note buyers. These Google reviews are excellent guides in finding reputable, reliable, experienced top mortgage note buyers. They will highlight the experiences of noteholders when they were selling their note.
The next step is to have a discussion with the note buyer or buyers whom you selected. You can learn a lot about a mortgage note buyer in a discussion. Be sure to have your documents with you so that you can discuss the real estate transaction in detail and answer note buyer questions.
Which documents should you have? I would say at, a minimum, you should have a copy of the promissory note and the closing statement. And, be prepared to talk about how the borrowers have performed on this note. Are they current, are they behind?
When learning how to sell a mortgage note to top mortgage note buyers, you are probably wondering how you can get top dollar. So it would be helpful to understand exactly how a real estate note is valued by an investor.
Keep in mind for the investor this note is a risk-reward proposition. The less risk the investor must take the more he would be willing to pay.
What factors go into that risk-reward calculation? Well, the credit performance of your borrower is especially important. If he/she has trouble paying their bills it makes the investment a riskier situation. If the borrower has more equity in the property, it makes the investment less risky. So, it’s important for you to be able to give the investor an accurate account of all the factors involved with the promissory note.
Once again, let me say… If you want to sell a mortgage note to top mortgage note buyers, make sure you’re dealing with somebody who is authentic, is trustworthy and leaves you knowing that you are in good hands. You should feel confident that you are dealing with a professional note buyer who is dedicated to creating the best possible solution for your situation.
As mortgage note buyers for over 30 years, we have been helping note holders just like you in all kinds of situations… from selling a private mortgage, selling a private trust deed, or selling almost any owner financed note… we will help!
Please check our referrals here. And, you can check our Google reviews here. You’ll see that we pride ourselves in helping note sellers. like yourself, solve whatever problem they have to get maximum benefit 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.
You can get started by filling out the form on the top right hand corner of our home page. Access it here. Or call us at 772-232-2383 and we’ll help you in any way that we can.
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