If you're a real estate note holder looking to list your note
for sale there's some things you need to know first. The buyer
of a note will ask for certain information each and every time
they purchase a note.
Being prepared with this information when you list a note can
save you time and frustration. You shoulde expect a serious note
purchaser to request the information within this article, and if
you are serious about selling your real estate note, you should
provide the information without a fuss.
Why? Because the information you provide will give the note
buyer a good idea of whether they want to pay you for the note
or not. You need to show the Buyer what you have for sale
EXACTLY what you have for sale.
Think it much as when you would buy a car. You would want to
know the make, model, style, color, mileage, age, engine type,
seating arrangements, accessories, and all the other little
facts and features that make the vechicle what it is. You want
to know whether it is EXACTLY what you are looking for before
you purchase.
A serious note buyer wants to know Exactly what they will be
buying too, so provide them with the information they need to
make a purchase.
What a Serious Note Buyer Will Request from you:
A copy of the note
Copy of Trust Deed, Mortgage, or Land Contract
Payment History of the Note Payor
Escrow Instructions from real estate sale in which the contract
was created
Escrow closing statement from real estate sale in which the
contract was created
Title insurance policy that insures the contract
Fire insurance information on the property which secures the
contract Loan payment record
pictures of subject property
street and city map showing the property location
Plans, surveys or other documents in your posession
The note buyer may also request a credit report on the note
Payor. Any note holder (you) has the legal right to pull a
credit report on a Payor at any time, without any permission
from the Payor. Having this information ready will make your
transaction smooth an speedy.
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