Mortgage Notes - How To Find A Mortgage Note Buyer
You've finally sold that property using owner financing, but now realize that you would like to get some cash now for your mortgage note. There are lots of people out there who are mortgage note buyers. but how do you make sure that you dealing with someone who is honest, competent, and able to actually get to you the money that is promised?A number of methods are available to you in increasing the chances of working with the right mortgage note buyer. While you, of course, need to use your best judgment and instincts, you should ask penetrating questions to more objectively gauge the person or company with whom you are talking. Here are some good questions for you to use in any situation where you want to discuss the selling of your mortgage note.
- How long has the person been in the business? If less than two years, you should move along to another company.
estate broker's license to buy or broker mortgage notes. a person who is licensed is more likely to be competent and to understand the market and legal implications for you, even if they are licensed in a different state from where you live. You can validate whether they are licensed by going on to the appropriate state's department of real estate website.
Article written by Alan Noblitt. Published with permission from Alan Noblitt, Seascape Capital Inc. which buys and brokers real estate notes.