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More About Owner Financing

 

How is the value of a note determined?

The value of a note is affected by how the note was structured. 

For instance: The type, condition, and value of the property, the down payment, interest rate, payment amount, and term as well as the buyer's credit rating and payment history.   

What also needs to be explained is the "Time Value" of money. You may have heard of this factor before.  

A popular example of "Time Value" is... If I offered you $100.00 cash right now in your hand OR I can give you $150.00 cash in 6 months.  Which has more value? Which offer would you take?     Money has more value when it is liquid cash, in your hand.

Generally, due to inflation, money in your pocket today is worth more now than later.  These factors are taken into consideration in determining the current value of your note. The time value of money, which makes payments due now more valuable than payments due in 20 to 30 years.  

How Long Will It Take To Receive Funds?

If we work together from the beginning of the transaction for selling your property,  you generally receive the money within 24 hours of closing.

If you have created a sellable note, and wish to sell all or part of it,  generally, after we have received the necessary documents and information, it takes only 10 working days.

 

I Have a Note! Will Selling My Note Have An Effect On The Person Paying Me?

No. All terms and conditions set forth in the original note and mortgage remain in force. The only change will be to whom and where the payments are sent.

What Is Required For A Note Appraisal?

Basic information that is easily obtained from the closing documents and note. 

1)  Property Information: Full address of the sold property, Property type, description of the property and area it is in. Appraisal information or Approximate value of the home today.

2)  Note Information: Date of the Sale,  Selling Price, Down Payment,  First Lien amount (how much the note is for), second Lien Amount (if any),   Amount, if you still have a mortgage due on the property,    How many months of payments were there (also called "terms"),  Payment amount, Is there a Balloon?  Interest rate, Due date of first payment, # of payments that have been made, # of payments remaining, When is the next payment due, and what is the Balance remaining?

3)  Payor Information:   Employment information, credit score, payment history, their full name, social security number.

4) Your Information:  Prior mortgage information (if any), What is your interest?    Are you interested in selling the entire note or do you want to sell a portion of the note? Is there a specific amount of money that you are in need of right now and want to sell only enough to receive a specific amount? 

Obtain an appraisal on your note here, with no obligation what-so-ever!

For Assistance in Creating a Note Click Here

All Information is Confidential and Personal. We do not and will not share your information with anyone or any entity that is not affiliated with our company and/or is not beneficial to your transaction. 

 

 

If you have your property listed with a Real Estate Agent, you can  owner finance and they will still receive their commission.

If your agent has any questions, please have them contact us.      (408) 515-4547

 

             

 

 

 

 

 

  

 

 

To receive funds at closing:  

Equity in the house/property should be 87% or more. 

 

 

 

We are not Real Estate Agents, therefore there is no commission fees to you from us. We are Investors who will buy your house or save your house with CASH or on terms*.