Processing time varies, so ask. The first and second place notes can’t add up to much more than 70% of the value of the property, or you’ll be looking at a steep discount Discounts, by the way, will almost always seem steep. First, you may have to pay for the appraisal. If there is no recent appraisal, they will usually arrange for that. Buy Real Estate Notes It could be a mortgage note, or a land-contract or contract-for-sale. 4. 2. If they ask, go someplace else. The buyer of your property will have the same terms and payments. Real Estate Notes 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. You can sell second mortgage notes, and other second-place real estate notes as well.

People discount real estate notes to raise cash quickly. “Seasoned” notes sell for more too. 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. Real Estate Make Money 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. Those are notes that have had payments made on them for a while. No other fees, with a couple exceptions. 7. It is common for note buyers to pay 20% to 30% less than the current balance on the note. Rich Dad Poor Dad You should be able to find many note buyers who will check your buyers credit and give you a quote without charging you. Contact several note buyers for quotes. A real estate note is just the loan document created when you financed the sale of your house or investment property.

The buyer has already figured his expenses before making.