I had the opportunity to go up to Llano, Texas this past Thursday to look at a piece of ranch land that was the underlying asset for an owner financed real estate note. The note owner sold the property using owner financing and wanted to Sell His Note. He received a 20% down payment, the note had an interest rate of 10% and was amortized over 15 years. Additionaly there were 3 and 1/2 years of payments all paid a week before the due date. The payor, a cattleman, set up the [Read more...]
Sell Your Note with The Texas Note Company
January 20, 2010 By Leave a Comment
The Texas Note Company is a group of real estate professionals that specialize in Owner Financed mortgage notes. We are Texas owned and operated. Our business is to buy and sell mortgage notes, deeds of trusts, land contracts, and mobile home notes. Whether you are in the market to sell a portfolio of notes, a few mortgage notes or just one, The Texas Note Company has the experience and resources to get you the best price for your note.
Sell My Note – Crafting a Note For Investors
January 9, 2010 By 2 Comments
Using owner finance techniques to sell a property are no more difficult than a traditional real estate closing, following a logical and proven plan is the best method for ensuring a successful real estate sale with seller financing.
The sellers’ misconception
Many property sellers stay away from seller financing because they mistakenly believe that creating a note is not a viable solution for selling their home.
Sell My Note – What is Seller Financing?
January 8, 2010 By Leave a Comment
When I attend various networking events around Texas and I get up and give my 60 second spiel and almost always I will get someone that comes up to me and say. “Robert What is Seller Financing? I have heard of it, but just not really sure what it is or how it works.”
Seller Financing is the oldest form of lending there is. Seller Financing also referred to as “Owner Will Carry” or “Owner Financing” has been around long before banks or mortgage companies ever existed. Because it is the oldest form of lending that exist, it is also the method of lending that sellers and buyers know least about.
Seller Financing occurs when real estate is sold and the seller provides financing to the buyer for all or part of the sale price. The seller becomes the lender, or the bank, by offering financing to the buyer in the sale of their property. This process is used in a variety of ways to meet the needs of sellers.
Sell My Note – When Carrying Real Estate Note insist on property insurance
January 7, 2010 By Leave a Comment
Home sellers need to be aware of certain important details when they decide to carry back a note in a real estate transaction. When the complexities of traditional financing are removed from the sale of real estate transaction and seller financing becomes the solution, the process is so simple that it is easy to over look some of the details. [Read more...]
Owner Financing Glossary
January 6, 2010 By Leave a Comment
This is a page of owner financing terms with definitions I hope this helps.
- Balloon: A large payment on a note, usually due at the end of the payment schedule. Notes with balloon payments are considered riskier than fully amortizing notes unless there is a clear and obvious exit strategy. The availability of affordable conventional financing is crucial. In the market we have today, a good balance between the risk of a balloon, and the ‘time value of money’ issue, is to create a balloon that is due 10-12 years out.
- Sales Price – refers to the amount that the property sold for.
- Note Seasoning - A note is considered seasoned when at least 12 payments have been received. A well-seasoned note is more valuable than a “green” note
Sell My Note – Note Seasoning
January 6, 2010 By Leave a Comment
It is widely understood that that the housing market is in a recession and the need for cash is great. Individuals, Small Businesses and corporations can’t get loans. There is pressure on prices in the housing market and traditional financing methods aren’t helping the situation. So what do you do? You look for alternative options to get the benefits that you want and you find seller financing as the best option. So how does this fit in with note seasoning?
