As the world changes so does our personal needs and desires. There are thousands of homeowners that sell their house and carry back paper on the property. Why don’t they just sell it and be done with the whole process? Sometimes it is because they have tried to sell the house and could not get the selling price they wanted. The seller creates a note, gets a nice down payment and seasons the note, (collects payments for months or years.) At some point the financier (seller) might need the money and want to sell the note. It can be for many reasons, kids need money, grandkids need college tuition, medical bills or just wants to travel the world. There are as many reasons as there are note holders. The nice part is that there are many others that would like to buy these notes. Regardless of the reason for selling there is comfort in the fact that they can sell them and quickly for fair amounts and we at Medlow Group are interested in buying. We have additional information in our Education Section that give guidance on the basic rules for writing your own Mortgage notes.

A smart homeowner understands that the homeowner can benefit from the owner financed transaction. When you finance the transaction most of the income is tax free and only the interest income is taxed. This can be a great benefit especially if this is a second or third house. Review this with your accountant for exact details.  If the buyer has decent credit and can satisfy you that the payment will be paid consistently on time, then owner financed deal can be a good option. A good down payment is a solid foundation that keeps the buyer committed to paying the mortgage. With a good interest rate and after the buyer has made payments on time for 6-12 months there are lots of buyers that will be interested in buying the note. If you have collected payment for years and just need some amount of money you might consider selling some of the payments (a partial). For example if you have a note your collecting $900.00 a month on and you just need $10,000 you could sell some of the future payments for $10,000 and after the buyer has collected the agreed upon payments you get to collect all of the remaining payments. This is known as selling a partial. Medlow Group is always interested in buying a partial or whole note depending on what the note holder has in mind. This is the best part of dealing with notes, you can do almost anything you want and there are customers waiting to buy these opportunities.

This is a very simple process. Once you have decided to sell your note you need to locate a buyer, this is easy as there are many companies that buy them. After you have picked a company, they are going to ask you for the information on the original note. That note is key to selling the note and you will have to produce the original signed copy to escrow when the transfer happens and the money transfers to you. The company that buys your note is going to do all the research, escrow, title and all paperwork necessary to close the deal. Other than providing the information on the note and payment proof we do all of the necessary paperwork. Some important items that bring you, the seller, the highest price are the following items. Having good records of all monthly payments, having a property buyer with decent credit, having a good interest rate on the note and a good record of on time payments. A few questions for you to answer and a copy of the note allows us to analyze the current value and make the highest dollar offer possible. Medlow Group is very interested in reviewing your note and making you a fair offer with a quick turnaround. It all starts with a phone call or input on our online form. Give us a call and we’ll make this easier than you thought.