What is a fair price for a seller-financed note in today’s market?

Here are 3 easy steps that sellers can take to receive a fair-market price before they make a decision to sell their note.

Even if you ultimately decide not to sell your note at this time, it still makes sense to obtain a quote or appraisal on your note every few years. After all, your seller-financed note is quite often one of your most valuable assets.

Fortunately, it’s quick and easy to obtain a free, no-obligation valuation by following these three steps:

Step 1 – Gather Copies of Documents

The first step is to gather copies of the documents. The primary documents utilized in the valuation process are:

• Settlement Statement
• Mortgage (Deed of Trust, Real Estate Contract, etc.)
• Promissory Note

Hopefully, copies are easily accessible with the originals located in a safe deposit box or other secure location. If a seller later decides to sell the note, the prospective buyer will ask for a few other documents plus the appropriate originals at closing. But for now, these copies will be sufficient to provide an accurate quote. In addition to these documents, you may be asked for evidence of the payment history on the note.

Step 2 – Complete the Fast Quote Request

The Fast Quote request is an online quote submission form available on our web site. Much of the information requested on this form can be found in the documents mentioned above. You will be asked for details on the property, buyer, repayment terms, and current balance. If you prefer to submit this information over the phone, feel free to schedule an appointment or just give us a call at your convenience.

Step 3 – Submit to Funding Source

The third step is for us to submit the Fast Quote information and supporting document copies to prospective note buyers for pricing.

Most note buyers will provide a free no obligation quote within 24-48 hours. The quote is generally good for 30 days and is subject to due diligence, which includes a thorough review of the title, property value, tax and insurance status, buyer’s credit, and other underwriting items. The more detailed and accurate information the note buyer has up front, the fewer “subject to” items they will include with the valuation.

Why wait? Find out what your seller-financed note is worth today!

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