If you're a real estate note holder looking to list your note for sale there's some things
you need to know first. The buyer of a note will ask for certain information each and every
time they purchase a note.
Being prepared with this information when you list a note can save you time and frustration.
You shoulde expect a serious note purchaser to request the information within this article,
and if you are serious about selling your real estate note, you should provide the information
without a fuss.
Why? Because the information you provide will give the note buyer a good idea of whether they
want to pay you for the note or not. You need to show the Buyer what you have for sale
EXACTLY what you have for sale.
Think it much as when you would buy a car. You would want to know the make, model, style,
color, mileage, age, engine type, seating arrangements, accessories, and all the other little
facts and features that make the vechicle what it is. You want to know whether it is EXACTLY
what you are looking for before you purchase.
A serious note buyer wants to know Exactly what they will be buying too, so provide them
with the information they need to make a purchase.
What a Serious Note Buyer Will Request from you:
A copy of the note
Copy of Trust Deed, Mortgage, or Land Contract
Payment History of the Note Payor
Escrow Instructions from real estate sale in which the contract was created
Escrow closing statement from real estate sale in which the contract was created
Title insurance policy that insures the contract
Fire insurance information on the property which secures the contract
Loan payment record
pictures of subject property
street and city map showing the property location
Plans, surveys or other documents in your posession
The note buyer may also request a credit report on the note Payor. Any note holder (you) has
the legal right to pull a credit report on a Payor at any time, without any permission from the
Payor. Having this information ready will make your transaction smooth an speedy.
About the Author
Jennie Pipkin is a Premiere Cash Flow Specialist.
List and sell your real
estate note absolutely free on her website.
