When an investor has performed their due diligence (research) and is ready to purchase a seller-financed mortgage note, they will ask the note seller to deliver all original documents and to sign the closing/assignment package. The investor will typically want these original documents to be delivered before the funds are released to the seller. A note seller might reasonably ask, … Read More
Is it Time to Sell Your Note?
Every day people make the right decision to sell the mortgage note they carried back from the sale of a home. While some folks do keep their seller-financed note for the entire term, more often they decide at some point to sell the note and receive a lump sum of cash. Why Offer Seller-Financing? Chances are you sold your house … Read More
How to Sell Your Mortgage Note
Are you tired of receiving monthly payments on your seller-financed note? Do you long for a lump sum of cash today? If you previously sold property with seller-financing, chances are you’ve wondered more than once about whether there’s any way to convert those monthly payments into cash now. Well, if so, then you’re in luck! There’s a very good chance … Read More
The Seller-Financed Note Players
Whether buying or selling notes, understanding the players in a seller-financed transaction is key to profitable outcomes. Here are the five main players along with some standard industry terminology. Seller – Note Holder – Payee When a property seller accepts payments from a buyer over time using seller-financing, they also become the note holder, note owner, or payee. The payee … Read More
What is Seller-Financing?
Seller-Financing (or owner-financing) refers to a sales transaction in which the seller allows the buyer to make payments over time for the property being purchased. This “private” financing by the seller replaces the more traditional conventional financing offered by banks. There are many reasons why a seller might offer financing to a buyer. Perhaps the buyer is self-employed and can’t … Read More
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