What are real estate notes?
A real estate note is a type of promissory note that shows the terms of a seller-financed agreement regarding a specific property. The terms include information such as the interest rate, duration of payments, payment amount, the due date and other essential details about the agreement. A real estate note is also called a mortgage note or deed of trust note.
We can help simplify the note buying process.
The process of selling a mortgage note can take between 30 to 45 business days. This depends on several factors, such as property location, appraisers, etc. After getting a quote we will ask you to submit a copy of the note payment records, copy of the note itself, asset verification forms and further underwriting documentation.
We will also order an appraisal or Broker Price Opinion (BPO). After we have thoroughly evaluated your note and property, we will give you a note purchase agreement. You will review, sign and return the note purchase agreement. Then we will order and pay for a title search - no cost to you! Once the title is vetted and approved, we will schedule a closing time and date. You'll then receive the check via FedEx or a wire transfer.