Fast Lump Cash for your Business Note or Mortgage ;

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What is a Note or Discount Note? A Note can be an instrument like a 1st or 2nd mortgage and In today’s environment offering or accepting seller-financing as a method to help sell real property has become another alternative to a time when sellers were typically only accepting offers from buyers who could qualify for traditional lending, but In today’s market we may not be able to get buyers with the full down payment that’s required by most lenders. 

In some cases when a property for whatever reason does not qualify for traditional lending and a cash buyer can not be found, then offering seller-financing (creating a note) may be the only other alternative to making the sale.    

The Following is for information purposes only and to assist in deciding whether to proceed with a further investigation of a mortgage request with your attorney 

Motivation for creating a discount note can be for any number of reasons::

¨A seller willing to holding a note or mortgage can increase the field of potential buyers for their property and this can help the broker find more potential purchasers to sell the property in a quicker fashion. ¨The property seller may have already moved out of the home and out of town. ¨Property seller may be counting on the proceeds to pay bills. ¨Seller must make the down payment on a new house or investment property. ¨The property was on the market to long and seller needs to sell now. ¨Property seller must payoff a delinquent underlying lien etc.  

How does a note sale work? The investor (note purchaser) will preliminarily evaluate the transaction and provide an offer of a specific dollar amount. A note or mortgage taken back by the seller can be sold for cash at closing of escrow if not a seasoned note / mortgage, or any time there after at a discount to the note purchaser agreed upon before the sale of said note. Discounts on the note depend upon the type of property, amount of cash the buyer put down, credit of note payer, the note face interest rate, term etc. A typical note can be discounted from approximately 20% to 40%. The note investor can purchase the note 3 days after  the closing of escrow or any time there after if this is a seasoned note. The investor will take an assignment of the note; the funds for that purchase are wired into escrow and then released upon proper recording of the assignment of the note to the investor. 

Call or e-mail if you or someone you know have a cash flow or note to sel.