Owner Financed Notes
In today’s market, owner financed notes are typically purchased by three primary sources; the note payer (buyer of the property), a corporate note buyer, or a private note buyer.
The ideal situation is, of course, for the note payer to pay the note off at the full face amount. In many cases, however, this is difficult or not even an option. When a seller needs cash, it is always a good idea to approach the note payer first to see if full payoff is feasible.
For example: The Jones (buyer) purchased a home with a note from the Smiths (seller). At the time, the Jones could not secure funding due to an insufficient down payment, poor credit, etc. Three years later, the Smiths are in a difficult situation and need cash but the contract has not yet matured. They approach the Jones who by then have sufficient equity and credit to secure funding. Perfect scenario!
However, if the note payer is not able to provide full payoff, an excellent choice is to contact a corporate note buyer. American Equity Funding is a corporate note buyer and can also assist with a private note buyer.
A great way to find these investors is by utilizing search engines and entering the following or similar key words or phrases:
- Note buyers
- Mortgage buyers
- Sell my note
- Sell my contract
- Sell my mortgage
- Companies that buy notes
- Companies that buy mortgages
- Sell my owner financed note
- Companies that buy owner financed notes
First impressions are important! Look for valuable indicators from the company like honesty, credibility, references, professionalism, time and experience, and the content and quality of their web site and blogs. Connection with an actual person on the first phone contact is essential and an automated system or background noise may be warning signs.
American Equity Funding, Inc. was established in 1991 and has 26 years of professional experience. We have closed over 10,000 transactions and have a pristine reputation for honesty and integrity, including an A+ Better Business Bureau rating and excellent references from past clients.
Steve Whitlock, President, American Equity Funding.