Hello guys,
Here's how to sell a mortgage note, trust deed, or land contract in 7 easy steps.

Step #1 - Request Quote

Just complete a short informational worksheet to receive a free no obligation quote. This can be submitted online, by fax, or over the phone.

Step #2 - Provide Document Copies

To get started note buyers like to see copies of these three documents:

* Settlement Statement
* Promissory Note
* Mortgage, Trust Deed, or Contract

It is also a good time to be sure you know where the originals are located, especially the Promissory Note, as they will be requested at closing.

Step #3 - Accept Offer & Agreement

Once an offer is accepted it will be outlined in a written agreement. In addition to stating the price, the agreement will specify conditions of closing and who pays costs.

Step #4 - Note Buyer Review

The mortgage note buyer will perform a detailed review of the transaction, known as due diligence. This includes a review of the buyer's credit, current tax and insurance status, payer interview, and other important items. They may also request copies of additional documents including a payment history, insurance policy, and existing _title_ report.

Step #5 - Appraisal

The note investor will order an evaluation of the current property value. This usually takes the form of a Broker's Price Opinion (BPO) or drive-by appraisal. The investor wants to be sure the property value is still equal to or greater than the sales price. If the value comes in low, the note investor may present a revised offer for consideration.

Step #6 - _title_ Search

The _title_ search verifies ownership of the property and the mortgage note. It saves time and money to work with any _title_ report that might exist from the original sale date. If the _title_ search shows money is still owed on a prior mortgage it will usually be paid from proceeds.

Step #7 - Closing

When all steps are complete the note buyer will send the final closing documents for signature. The _title_ company is often used to handle the exchange of money for the original note and transfer documents.

Thanks
Sell Real Estate Note