The first step in selling your mortgage note is to get a quote.
Once you find a quote and buyer you are comfortable with it is time to accept that quote.
This is when the process of selling your mortgage note really gets started.
Upon accepting a quote, you will be asked to sign a purchase agreement and submit the necessary documentation to begin the underwriting process.
The note buyer will need to order a title report as well as an appraisal which could take time depending on the location of the collateral that is securing your note and mortgage.
Once the underwriting requirements have been satisfied you will be given a specific closing date.
The whole process can take anywhere from 2 to 4 weeks depending on how long items such as title reports and appraisals may take to receive.
NoteAdvocate is a free platform providing tools and resources designed to equip note sellers through the mortgage note selling process. Submitting a request into our industry leading Mortgage Note Matching Engine, of course, is the Best Way to Sell Your Note. If you’re a qualified Mortgage Note Buyer and in the market to purchase Real Estate Notes, we have free resources available for you as well.
So are you looking to sell one of the following real estate notes below?
Single Family Residential Real Estate Note
Duplex, Triplex Real Estate Note
Apartments Real Estate Note
Income Property Land Contract
Improved Land Contract
Commercial Land Contract or Real Estate Note
Condo Real Estate Note
Vacant Land Contract
NoteAdvocate is ready and waiting to help.