[Jurgen Ortmann]

Jurgen Ortmann

Jackie wrote:
4. Talk to a note buyer like Bayview Financial for advice on structuring a note they would buy at closing. You could sell the house to your buyer with seller financing then sell the note at closing. The buyer gets the house, you get paid, note buyer gets a good note. and the seller gets their house sold. Everyone wins.

This is beautiful! Are there any title companies in TX that are comfortable doing this? Are there any TX note buyers comfortable doing this?
Thanks,
Jurgen

[Jim Ingersoll]

Jim Ingersoll

How do you find a good note buyer and what is a good deal when selling a note?

Jim

[jean pizzoferrato]

jean pizzoferrato

Jackie
I love your idea and have some questions.

If the buyer wants $150k for house–after negotiaing with them–
How much is the note I would write and how much would I get paid. I know
it depends on note, etc. but I don’t understand if discount the note to Bayview…
would you plz use an example. Thx

Jean

[joe workman]

joe workman

you mean seller wants 150,000,I remember someone telling me note buyers usually buy a percentage of the note based upon credit of buyer,and you could all this through your title company.

[Daniel Matthews]

Daniel Matthews

Good information for buying/selling notes is on Paper Source Online. If you have control of structuring the note, there are good ideas on what features make it more saleable if you search for “taking back seller financed mortgage”. Depends on factors such as credit rating, interest rate, length of time, Loan to Value and property information, etc.
– dan

[joe workman]

joe workman

added security makes it more valuable also.

[Anonymous]

Anonymous

Seasoning is essential when selling notes these days. Their criteria is just about as tight as an institutional PLUS they want you to take a 20% discount or more….

We will have a note buying and selling expert as a moderator on the site soon and he will be able to give more advice.

Jackie