Welcome to Our Sell My Note Website, we are private Investors that buy both real estate notes or business notes. The real estate notes we buy are typically created when a piece of real estate is sold with owner financing, also called seller financing or carry back financing.
The business notes we buy are the notes that are created when the sell of a business sells his or her business and takes back a note for some or of the sales value of the business.
To find out more about the types of business notes we buy please visit our Business Note Buyer Page Here.
What Documents Do I need to sell my note?
The Original Note Agreements
You will need to provide a copy of the original promissory note agreement, that outlines the term. The note should documents the Original Note Amount, The Interest Rate, The Length of the Note and any other specifics you decide during the sale of the property.
The Security Instrument on the Note
The security instrument is typically a mortgage or deed of trust. The security instrument attached the promissory note to a piece of collateral normally real estate in most situations.
Payment History on the Note
Its is vital to keep good records when holding notes, you should keep detailed records of every payment made to you by the person paying on the note.
You should definitely have title insurance on the collateral for the note, not having this will dramatically affect the value of the real estate promissory note.
The underlying property should always have an insurance policy that protects the note holder should the worst occur and the property burn down.
Should I Sell My Note | Frequently Asked Questions about Real Estate and Business Notes
How Do I find out how much my Note is worth?
The best way to determine the value of your promissory note is to complete a note information worksheet on this website here:
<Note Information Worksheet>.
This gives us a complete picture of your your note.
This help us determine the true market value of your note.
How Quickly Can I Sell My Real Estate Note?
Once you accept of note purchase offer, you will get your cash in a 14-21 days.
How Much Will You Pay Me For My Real Estate Promissory Note?
Each real estate note is a little different, we will review your note and will often present you with 2 or 3 different offers, that we believe make best send for both you the seller of the note and us the buyers of the note.
What other advantages are there to Selling My Real Estate Note?
A promissory note is a fixed value asset, it value decreases over time. If inflation increases quickly, the true value of the note decreases rapidly unlike real estate which generally increases over time.
Do You Buy Bank Notes?
No we do not buy notes from large institutional lenders such as Bank of America,Wells Fargo, Citibank and Credit Unions etc
Do You Buy Non Performing Notes?
Yes, occasionally we will buy non performing notes, but typically the discount we pay are very steep on non performing notes and loans.
Do I have to sell all of my promissory note?
That is a great question and in fact it many notes we buy are partial purchases, i.e. we only by a portion of the note. This has the advantage that your note may not be discounted as deeply when selling your note in this many.
Can You Buy My Note if I have lost it?
If you loose your ordinal promissory note, there are a few extra steps we will need to go through to be able to buy your note, this will add a little extra time to the selling process but we will still able to buy your note.
Do You Buy Unsecured Notes?
Generally we do not buy unsecured notes, but in very rare occasions we may consider it
Why Should I Sell My Real Estate Note?
When you sell all or even part of your real estate promissory note, there are many other advantages other than just extra cash, they are:
Worry Less About Payments
Now you don't have to worry about the note payor making payments on time or even stop paying.You don't have to service the note every single month and worry about reporting the income of the right tax form.
No Worry About Taxes
You won't have to bother worrying if the taxes and insurance are current on the property.
A big chunk of cash when your sell your note
You get a big chunk of cash not just small monthly payments, now you can pay off your credit cards,medical expenses or your student loans.Maybe you use the cash to purchase that amazing real estate deal you just found.
Cash for a Vacations or new toy.
Now you can buy that nice new car you have always wanted or take that amazing vacation you have always been promising yourself.
What Type of Real Estate Notes Do You Buy?
We Buy The Following Types of Owner Financed Real Estate Promissory Notes:
Single Family Home Real Estate Notes
These are favorite type of note, a family home that has been sold with owner financing, where the seller of the home carried by a promissory note and mortgage.
Single or Double Wide Mobile Homes with Land
These are also good notes that we will buy, if the land is attached to the mobile home. In this case the mobile home is actually classified as a piece of real estate which can bought and sold via a promissory note.
Town homes or Condo Real Estate Promissory Notes
Yes these are also great notes that we can purchase from sellers.
Duplexes, Triplexes or Fourplexes
These are also good candidates but they is a smaller pool of buyers as many investors do not like to buy notes where the homeowner is not living in the property. In this situation a bigger discount will often apply to the note.
Commercial Property Promissory Notes
There are less buyers for this type of note but there are still a significant number of note buyers that will buy this form of promissory note. Call or fill out the form as every deal is different.
Raw Land Promissory Notes
The right piece of property there are always buyers, raw land notes do carry a higher risk but there are plenty of buyers looking for raw land in the right areas.
Yes Occasionally we have even boat notes secured by boats and yachts