Accepting payments on the sale of real estate might have made sense at the time, but circumstances change. Many sellers discover they would now prefer cash today rather than the small amount that trickles in each month. Here are just a few reasons people have sold all or part of their seller financed mortgage notes for cash: … [Read more...] about Why Sell My Mortgage Note?
5 Reasons Owners Offer Seller Financing
Why would a seller allow a buyer to make payments over time for the purchase of property? Wouldn't the seller rather get paid now and require the buyer to obtain a bank loan? Here are 5 reasons property owners offer seller financing: 1. Reduced Marketing Times What is the first thing a real estate agent does when property is not moving and has been on the market for 60 to … [Read more...] about 5 Reasons Owners Offer Seller Financing
Payment Histories Increase Note Values
Want top dollar when selling mortgage notes? Increase the value with payment histories! Keeping an accurate record of the payments received on a mortgage note is essential for knowing how much the buyer still owes. This also establishes a record of their payment habits - with an added benefit. The value of a note can be improved by presenting note buyers a verifiable … [Read more...] about Payment Histories Increase Note Values
Safekeeping the Original Mortgage Note
Can you easily locate the original mortgage note? This important legal document should be kept in a safe place, and here is why! The promissory note is a promise to pay or IOU from the property buyer. It spells out the amount due and terms of repayment. In legal jargon it is known as a negotiable instrument. Similar to a check, the original must be presented to collect or … [Read more...] about Safekeeping the Original Mortgage Note
Avoid Three Seller Financing Mistakes
Would you rather have $97,000 to sell your $100,000 note or only $80,000? The difference in usually comes down to the big three. Here’s the three biggest mistakes note sellers make and how to avoid flushing money down the drain. Mistake #1 – Failing to Check Credit The payer’s credit report lets you know how timely they have paid bills in the past. This is a good indicator of … [Read more...] about Avoid Three Seller Financing Mistakes