The process of selling your note is not as intimidating as it might initially seem. Actually the process is quite straightforward, and is quite similar to the processes involved in selling the real estate, except of course that we are buying or taking an assignment of the note or contract rather than buying the "real property".
Initially, we will gather the specifics of your note. Our on-line quote form details the information we will need to collect to provide an accurate offer for your note. Once we’ve gathered the pertinent information and reached a mutually acceptable sales price. We will issue a Purchase and Sale Agreement and proceed with the due diligence phase. Please refer to our due diligence checklist below to get an idea of the things we’ll need from you to ensure a fast, efficient funding.
Due Diligence Checklist
Following please find a detailed list of items needed to quickly process the file and complete the due diligence phase:
Copy of signed promissory note
Copy of the signed and recorded Mortgage, Trust Deed or Contract and Warranty Deed or Vesting Instrument
If manufactured home, please provide a copy of the front and back of the manufactured home title or a copy of the Certificate of Attachment/Affidavit of Affixture
Copy of Abstract or Title Policy
Copy of buyers payment history
Copy of sellers Closing Statement
Evidence of initial down payment
Copy of current hazard/fire insurance binder
Copy of current property tax statement
Pictures of the property (if available)
Borrowers information (Name, Address, SSN and Phone Number)
Additional Commercial Property Requirements
Copy of rent rolls/occupancy statement
Copy of last two years of Profit and Loss Statements
If you have questions, concerns or would just like to discuss the particulars of your note with a real person, please feel free to give us a call toll free at 1-866-780-2274.
