If somebody owes you money on real estate, we'll take a look
We buy privately held, real estate-secured payment streams across the country. The paperwork goes by different names in different states, so here's the plain-English list.
Types of notes we purchase
- Mortgage notes — you sold a property and hold the mortgage yourself
- Deeds of trust — the same arrangement, different paperwork, common in Texas and much of the West
- Bonds for deed — the Louisiana version, where you keep title until the buyer pays it off
- Contracts for deed and land contracts — the same idea under other states' names
- Land and lot notes — raw land, hunting property, timber tracts, lots
- Commercial notes — secured by a commercial building or land
- Business notes secured by real estate — you sold a business, and the real estate stands behind the note
- Partial interests — a portion of the payments rather than all of them
- Inherited notes — paper that came to you through an estate
- Non-performing notes — the buyer has stopped paying and you'd rather not deal with it
We buy notes on single-family homes, mobile homes with land, duplexes, rentals, land, and commercial property.
What affects the offer
Two notes with the same monthly payment can be worth very different amounts. The things that move the number most:
Payment history
A buyer who has paid on time for three years is worth far more than one who started last month. This is usually the single biggest factor.
The down payment
How much of their own money the buyer put in tells us how likely they are to keep paying.
Interest rate and term
A note at 8% is worth more than the same note at 4%.
The property
Its current value, its condition, and whether it's occupied.
Position
Whether yours is the first lien on the property or sits behind another loan.
Documentation
Whether the note and mortgage were properly drafted and recorded.
If one of these is weak, it doesn't necessarily kill the deal. It just changes the number, and we'll tell you why.
Notes we generally can't help with
We'll be upfront so you don't waste a phone call:
- Unsecured notes with no real property behind them
- Notes where the lien was never recorded
- Notes on property with clouded or unresolved title, until that's sorted out
- Notes where you aren't the legal owner of the payments
If you're not sure which category you're in, call anyway. Sorting that out is free.
Find out what your note is worth
Fifteen minutes on the phone. No cost, no obligation, and you'll talk to the owner.