How will selling my note affect the payer?
The payer experiences no change in the way the payments are structured. The only change will be the address where the payments are mailed.
How do I get started?
To start the process of selling your note to us, we request copies of the documents that were originated at the time of your sale:
*Note and deed of trust, mortgage or contract
*Closing statement
*Pay history and current balance
*Previous title insurance policy
*Current hazard insurance policy
We will then give you a firm offer subject to the standard title, appraisal, and buyer’s credit review. Once under contract, you will receive your cash as soon as all of the documentation can be obtained. This typically takes as little as 10-15 working days.
Why should I consider using your company?
We pride ourselves on:
*Quick closings
*Excellent customer service
*Competitive quotes
*Providing customized options
*Strong financial backing
*Over a decade of experience
*Flexibility on all note purchases
*Confidentiality with all transactions
*Credibility in the industry
At CSRA Notevesting we provide top rate service combined with the best prices available.
Call us today for a free no obligation note appraisal!
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Valuable Tips for Selling or Holding Your Real Estate Note
When you sold your home or investment property, you decided to carry back a note for the new buyer. Seller financing is a growing business. More people are electing to take back a deed of trust, mortgage, or contract for many reasons:
*Quick sale of the property
*Monthly income from the note
No hassles of conventional financing such as fees, delays, and strict guidelines
More qualified buyers
However, circumstances change and many noteholder's would prefer cash today for their future payments. There are a variety of reasons people consider selling their payments for cash:
*Retirement
*Taxes
*Investment opportunities
*Expensive medical care
*Vacation or college tuition
*Unexpected financial changes
Peace of mind...being free from the worry of receiving late payments or having to foreclose on the buyer
Accounting nightmares, IRS regulations, and paperwork hassles and the list goes on...
If it's CASH you need, let us help!
We are in the business of buying land contracts, mortgages, deeds of trust, annuities, and other sources of payments commonly referred to as "notes." We have been assisting people like you for years, providing cash quickly and effortlessly. We represent a nationwide group of investors allowing us to offer top dollar for your owner financed note.
This brochure was designed to answer questions commonly asked by people considering the option of selling their payments. It also provides important information on maintaining the value of your note.
What is a note appraisal?
A note appraisal reflects the current market value of your payments similar to what a real estate appraisal provides for real property. Frequently referred to as a "quote" it shows what your future payments are worth in cash dollars today. We recommend you have your note evaluated once a year.
How is the value of a note determined?
The value of a note is affected by the down payment, interest rate, payment amount, and term as well as the buyer's credit rating and payment history. The type, condition, and value of the property also impact the value of your note.
The time value of money, which makes payments due now more valuable than payments due in 20 to 30 years, also plays a role in the evaluation process. Generally, due to inflation, money in your pocket today is worth more now than later. All of these elements will be taken into consideration in determining the current value of your note.
How do I maintain the value of my note?
Many of the items that affect the value of your note were determined at the time the property was sold. However, keeping good records of the payments received and requiring the buyer to provide annual proof of current taxes and property insurance will help maintain the value of your important asset.
Can I sell all or part of my note?
We can purchase all or part of your remaining payments. Selling part of the payments allows you to receive a lump sum of cash up front, then payments when the note reverts back to you. We can even pay cash for a portion of each monthly payment.
Many people elect to sell just enough payments to meet their cash needs today and keep some of the future payments as an investment or nest egg. Always ask for an option that meets your needs.
What is a Partial Mortgage Note Purchase?
When a seller offers owner financing they agree to accept payments from the buyer. But sellers don't have to wait 10, 20, or even 30 years to receive their money. They have the choice to sell all or just part of their future payments for cash today.
Option 1 - When an investor purchases all the remaining payments on a land contract or mortgage note it is considered a full purchase.
Option 2 - When an investor purchases just a portion of the remaining payments it is considered a partial purchase.
The Full Purchase
For example, a note has a balance of $90,000 at 9.0% interest payable in monthly installments of $1,140.08 with 120 months (or ten years) of payments remaining. When the seller sells all 120 remaining payments of $1,140.48 to an investor it would be considered a full purchase.
The Partial Purchase
If the investor only purchased the next 48 monthly payments of $1,140.48 each then it would be considered a straight partial purchase. Once the investor received the next 4 years of payments, the note would be reassigned to the seller and the seller would collect the remaining 72 payments (120 total payments less the investors purchase of 48 payments leaves 72 payments remaining to the seller).
The purchase can also involve splitting the monthly payments received from the buyer between the investor and the seller, also known as a split partial. Using the same example of 120 payments of $1,140.08 each, an investor might agree to purchase $600 of each remaining payment leaving a remaining residual of $540.08 to the seller for the next 120 months.
The terms of the transaction are spelled out in the Purchase Agreement. This important document outlines the servicing arrangement along with what happens in the event of an early payoff or default by the buyer. Competent legal counsel should review the agreement to protect the rights of all parties.
So What's Best?
The best choice will depend on the cash needs of the seller and the value of the payments being sold. A partial purchase can help minimize the discount but it comes with the worry of the buyer keeping payments current in the future. A full purchase can give sellers peace of mind knowing they are through with the property once and for all.
Get a free no obligation quote today!!