How to Sell Your Note
What is a note? A Note is a promise to pay a debt, with the promise secured by a mortgage, trust deed or contract, or other type of collateral. Such a note, when properly constructed, can be sold to raise immediate cash. The value of a note is established by a number of factors, including: type and location of property, condition of improvements, structure of note and mortgage, credit of payor, market interest rates and much more.
Partial Purchase Options Here’s a great way to obtain thousands of dollars without taking out a loan and without giving up all rights to the property. Perhaps you need extra cash for a major purchase, medical or college expenses, taxes, or an investment opportunity. You can obtain the money you need from us – by selling us some of the payments due on the mortgage you hold. For example, let’s say you need $30,000. We’ll purchase a specified number of mortgage payments from you. (The number depends on the size of each payment.) Then, for the period of time specified in the partial purchase agreement, the buyers of your property will send their monthly payments to us, instead of you. After the specified number of payments are made to us, the mortgage and note revert back to you, and you’ll collect all future payments. It’s a convenient way to obtain the cash you need now, in one lump sum, instead of over a period of months or years, while you continue to hold the mortgage for future income. And, of course, depending on the terms of your mortgage, the amount can be much higher than the example of $30,000. This plan even works with Balloons.
Minimal Discount Method We may also pay you the equivalent of your current balance by using our “MINIMAL DISCOUNT METHOD.” We can explain in person how this works and customize it to your note. NOTE: THE TERMS AND CONDITIONS OF THE MORTGAGE YOU TOOK BACK WILL NOT CHANGE.
Getting a Quote To receive an offer, provide us with information about your note. We will ask you for the interest rate, the original loan amount, payment amount, and the term of the note. We will then give you one solid quote for your note. We do not negotiate any quote we give because we will be giving you our best quote right up front, based on the information you provide us.
What We Do Harris Note Investor’s, L.L.C. specializes in the purchase of owner-financed real estate notes and other payment streams. We can provide cash for real estate owners who have sold their property and financed it for the buyers. Owners of these notes may find they need money for the purchase of another home or investment opportunities, personal emergencies, estate settlements, etc. or desire to have cash instead of collecting a monthly payment for several years. Harris Note Investor’s, L.L.C. can provide the cash you need. We have several different purchase plan for you. In order to find out more information and to obtain an approximate price for your note, call us, or fill out the online form on this web site, and we will discuss which of our plans will work best for you. Harris Note Investor’s, L.L.C. has a network of over 100 Independent Investors Nationwide that includes all 50 states. We can provide complete closing services nationwide. We have the ability to close fast and get your cash in as little as a few weeks. Our professional service will result in a fast transaction that gets you cashed out quickly and professionally.
Steps to Selling Your Note Call us, or fill out the online form on this web site, with the terms of your note. We will give you a quote within 48 hours on most notes. Once you accept our offer, we will sign a commitment to purchase your note. You then provide us with the documents listed earlier, to start our process, which includes having a new appraisal and credit check completed at our expense. Because we do pay for these procedures, we ask in the Commitment that you allow us 30 days to complete the process and fund your note, even though it may not take that long to fund. We will update the title policy and make sure all the documents are in order and will then arrange for a closing at your local title company. As soon as the title policy and appraisal work have been done, we will be ready to close and fund the Note. We look forward to working with you in the future and will be glad to assist you in the sale of your Note.
How Does the Process Work?: As mortgage investors, we carefully analyze all aspects of the property sale including:
- The legal documentation.
- The physical property.
- The background of the payors.
- The credit of the payors.
- The condition of the title.
