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Frequent Questions

Frequent Questions

Q: What is a note?
A note is written document that states a promise to pay as well as the terms which include the amount, interest rate and length of time in which to fulfill this promise

Q: What is a note appraisal?
A note appraisal reflects the current market value of your payments similar to what a real estate appraisal provides for real property. Frequently referred to as a "Quote" it shows what your future payments are worth in cash dollars today

Q: How is my note value determined?
The value of your note is based on a number of factors:

  1. Down payment
  2. Interest rate
  3. Payment amount
  4. Length (term) of the note
  5. Buyers credit rating
  6. Payment history
  7. In addition, property type, condition, and value will affect note value

Q: How long does it take to close?
Generally, it takes 2-3 weeks to close on a real estate note from the time we receive all the required documents to allow for title report and appraisal

Q: How do I receive my money?
Money is usually wired directly to the escrow company/title agency for disbursement

Q: Who pays the closing costs?
Sometimes we pay closing costs and sometimes the noteholder does. Every deal is different. We will work out a deal that makes both of us happy!

Q: Is there a maximum or minimum size note that you buy?
There is no maximum. We generally prefer that the note be a minimum of $20,000, however we look at each note on a case by case basis

Q: Do you charge for providing a quote?
Providing a quote is completely free

Q: I’m concerned about confidentiality, what shall I do ?
Your private financial information is kept in strict confidence

Q: How can I make sure that I’m getting a fair price for my note?
Unlike the primary mortgage market (mortgage companies and banks) where you know exactly the interest rate and costs involved, the secondary market (such as buying notes) sets the offers based on a different set of rules as explained above.

Due to the high risk involved with these transactions, there is always a discount on the face value of the mortgage. The size of the discount will depend on a variety of factors, most of whom are described here. Rest assured you will get the best offer possible

Q: Does the sale of my note affect the payor?
No! As a matter of fact the sale of your note never changes any terms of the note contract. The payor will get the same terms as the original note contract

Q. Why Would I Want to Sell My Real Estate Note?
When you convert part or all of your real estate note into cash, you gain several advantages in addition to immediate cash:

  • You don't have to worry about the payments you receive each month slipping away on life's little expenses
  • You receive a substantial sum of cash right now ­ and accomplish your goals
  • You won't have to worry about collecting monthly payments or servicing your note; we'll handle it
  • You won't have to worry about whether the taxes and insurance premiums are being paid each year to protect your investment; we'll handle it
  • You won't have to worry about whether your purchaser will continue to make their payments

Q. Are There Any Additional Benefits To Me?
Yes. When you consider the impact inflation can have on the value of your note over its life, cash in hand today can be expected to be worth a lot more now than years down the road.

Q. What Types Of Property Do You Purchase?
We purchase real estate notes on virtually all types of property: single-family homes, multi-family homes, farmland, commercial, recreational, vacant land, and mobile homes with land attached.

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