don’t overpay on real estate notes

Jimmy Doukakis — Sat, 12 Dec 2009 21:31:06 +0000

No upfront fees. He’ll just be making those payments to somebody else. Suffice it to say, they need to make money on the deal, and you should be sure you have a good use for that cash before you sell those real estate notes. They should respond within a day or two. Rich Dad Poor Dad Some note buyers will buy new or “unseasoned” notes, but if you can wait until six payments have been made, you’re likely to get a much better price. The note buyer should check the credit of your property buyer upfront. The buyer has already figured his expenses before making the offer, so there are only a couple fees you should have to possibly pay. I’ll let them explain why. A real estate note is just the loan document created when you financed the sale of your house or investment property. 6.

Contact several note buyers for quotes. Get Top Dollar When You Sell Real Estate Notes Notes with a balloon payment get a higher price. How To Make Money With Real Estate 4. 7. 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. Selling real estate notes can be an intimidating process. How To Make Money With Real Estate If there is no recent appraisal, they will usually arrange for that. “Seasoned” notes sell for more too. Ask questions about anything that isn’t clear. It is common for note buyers to pay 20% to 30% less than the current balance on the note.

How To Make Money With Real Estate Unscrupulous buyers can quote one price initially, and then lower it later, using the excuse of the property buyer’s bad credit score. This is called “bait and switch,” and it isn’t ethical. Note buyers will look at these differently though. No other fees, with a couple exceptions. Rich Dad Real Estate Seminar This is something to consider before you sell the house, if you think you might sell the note in the future. You can sell the entire contract, or just a certain number of payments if you want. You should only pay exactly what these cost the note buyer though. Be sure that the note buyer gives you a written purchase agreement with the purchase price and contingencies. Processing time varies, so ask.People sell real estate notes to raise cash quickly.

When you get a quote you like, you’ll have to send copies of the Mortgage or Deed of Trust, the Note, the closing or Settlement Statement, and the Title Policy.. Real Estate Notes

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don’t overpay on real estate notes