How do you get a mortgage note best offer when you are ready to sell you note? Sometimes its just a matter of luck and timing. Actually, not likely. For you, the mortgage note best offer may be simply the most money you can get when you are ready to “cash out” or a Partial Sale where you get some cash now, but get future revenue when you want it in retirement. The steps you take administering your mortgage note will affect the quality of offer you will receive from a note investor.
Mortgage Note Best Offer
Step 1 – Locate your documents; including the promissory note, settlement statement from the property sale and your property mortgage or deed of trust. It is important to have complete and accurate information available when you talk with mortgage investors.
Step 2 – Do your homework. Contact a number of mortgage note buyers. Ask them how they do business, learn as much as you can and request a purchase proposal from each of them.
Step 3 – Get as much current information regarding the property, note Borrower, payment history record, payment history on property taxes, etc. The more information available to the note investor, the less risk assigned and better the note offer.
Step 4 – Make your decision about selling. Do you need to sell the entire note (Full Sale) or can you do a Partial Sale? A Partial Sale will provide you a greater return over the life of the mortgage note.
Step 5 – Enter into a purchase and sale agreement with the company you choose to do business with. Before you sign the agreement, be sure to understand who pays the transaction expenses and make sure you are not responsible for any charges if the sale does not go through.
Step 6 – The final sale should be closed at a title company or attorney’s office. This is the best and safest option for you because it will provide a third-party closing agent to protect your documents and sale proceeds.
Please call us at (888) 213-3383 to help establish the market value of your mortgage note and the options available to receive the highest sale price or Contact Us via Email.