People sell real estate notes to raise cash quickly. A real estate note is just the loan document created when you financed the sale of your house or investment property. It could be a mortgage note, or a land-contract or contract-for-sale. The point is that the buyer is making payments to you, and you want to cash in.
You can sell the entire contract, or just a certain number of payments if you want. The buyer of your property will have the same terms and payments. He’ll just be making those payments to somebody else.
Selling real estate notes can be an intimidating process. You know you won’t get the full face value for your note, but will there be other fees you have to pay too? How do you know if the buyer is reputable? What is a normal discount on a note? Here are some guidelines to follow:
1. No upfront fees. If they ask, go someplace else. You should be able to find many note buyers who will check your buyers credit and give you a quote without charging you.
2. No other fees, with a couple exceptions. The buyer has already figured his expenses before making the offer, so there are only a couple fees you should have to possibly...
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