Owner Financed Real Estate notes are bought and sold on the secondary market at a discount of the note balance. There are investors who purchase real estate notes for the monthly cash flow. In the current economic climate it is a way for thousands of note holders to gain access to cash that they need. If you own a real estate note and interested in selling your note for a lump sum of CASH, The Texas Note Company can help. The best way for us to get you an accurate quote and begin the process in purchasing your note is to get a copy the following documents:
- Note Document
- Property Address
- Deed of Trust
- Settlement statement of the real estate transaction
- Payor’s credit status
- Note Status – Current or not
You can fax the document directly to me at Fax# 512.464.1214 or email them to me at Robert@TexasNoteCo.com. You can also complete the form below, providing some of the note details, and a Texas Note Representative will contact you to discuss your note with you.
While we begin the process and put together a quote for you be think how much money you need and whether you want a partial purchase or a full purchase of your note. A partial generally has a smaller discount and allows you keep part of the note.
After you have received a quote and you decide that you would like to go through with the transaction, the process generally takes about 2-3 weeks to sell your note and get you your money. I have seen the transactions process in as little as 5 business days and take as much as 45 days to complete. Having all the proper documents ready and accessible is half the battle. At this point we will take the following steps to process the purchase:
- Verify Payment History – usually a deposit report at the bank
- Verify the credit worthiness of the payor. (Usually check his/her credit)
- Verify Title Insurance
- Verify Title
- Verify Property Insurance
- Check Appraisal of property
These are some of the main steps that we take to close the transaction. There are potentially many others but these typically are the basics. The Texas Note Company will discuss in full detail the different aspects of the purchase and your note, full disclosure will be made to you concerning your note. Additionally we keep all matter fully confidential and do not divulge information unless we have your permission.
Ready to Sell Your Note? Want to Learn More? Fill out the form below…