Frequently Asked Questions
Q. Do I have to send
you my originals?
A. Not at first. But
they will be needed for the closing. A signed copy of the note is needed
along with the other required paperwork to set up and schedule the closing.
Q. What type of property do you buy?
A. We purchase monthly payments. If you are receiving monthly payments
for any reason we can purchase them be it commercial, residential, house,
condo, single family, multi family duplex, or other. We also buy business
notes, receivables, lottery winnings, annuities and more.
Q. What are closing cost?
A. The usual cost associated with real estate transactions such as
title insurance and recording cost.
Q. What are my cost?
A. There is no fee required to receive a quote from us. There maybe a
small closing fee, however, most of the time the buyer will assume all
closing cost. There are no sales people, and you will not receive phone
calls unless you specifically request that we call you. Our goal is for you
to be pleased and stress free in this transaction
Q. What will I have to do?
A. The process is easy. It is a legal financial transaction. You
answer questions about the monthly payments, provide the documents needed,
we agree on a purchase price and we meet at the closing table. See the
Process Section for more details.
Q. What is my real estate note worth?
A. You can find out how much your note is worth by calling (800)
511-9846 or
904 713-0476
or click here to fill out our online form. Please provide the information
requested and we will email or call you, which ever your prefer.
Q. How soon will I receive my Money?
A. We work hard to get you your cash as fast as possible. Once all
documents are received and you accept an offer, you can expect your cash in
as little as 3-4 weeks.
Q. How do I get started?
A. We will need some basic information from you. The more information
you can provide, the more accurate your quote will be. If you don’t have
all the information, we will do our best to work with what you provide us
with.
Q. What are some of the negative consequences that can happen if I hold
my note and not sell?
A. Money loses its value overtime, carrying high interest credit card
or car notes when having the money now would make it possible to pay them off.
Consider these negatives also: late or missed payments or even worse default
on loan or bankruptcy, foreclosure or delinquency, inflation, liens on property,
damage to property, total destruction of the property, lack of maintenance of
property, payors expect your to do repairs as if they or renting, IRS reporting
requirements,
Q. What is your interest rate?
A. Interest rate for what? There are about 500 types of different
mortgages, for different purposes, for different types of properties, and
different types of borrower qualifications,
without more information, it is not possible to answer that question.
Q. What are your rates for purchasing notes?
A. There is not such thing. The price can vary widely. With real
estate notes, there are residential notes, commercial notes, land notes, and
special-use property notes. And with each of these categories there are at
least three subcategories. We find the same situation with business notes, there
are different types of business notes..
Q. How is the value determined for my real estate note?
A. There are many factors considered, here are a few: The location of
the property, the type of property, the value of similar properties in the area,
the interest rate on the note and the terms of the note, the payor’s credit
score, how long have you held the note, how long will it take to collect all of
the payments, is there a penalty for pre-payment.
Q. Explain near simultaneous closings or FSBO options
A. Many people are very interested in a near simultaneous closing. We
can buy a seller’s owner financed real estate note at the closing table.
Professional real estate investors may never need to take back a note at closing
again, Realtors can solve the problem of a slow selling house and rather than
encouraging the seller to reduce their price get their offer they can offer
seller financing, and we buy the note at the closing table. You can read more
about how this works in the section FSBO. Please feel free to call or email us
for more information.
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