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We’d Like to Sell Our Real Estate Note – Are You a Note Buyer?

As a mater of fact, I would like to buy your note, or find the best buyer for your note (broker it), depending on where it’s located.  This note seller doesn’t happen all that far from me . . .

“Hi Dawn,

I hope this day finds you well.  I found your web site by searching how to sell our note.  My husband and I are the only note holders to the house we sold.  We’ve been kicking around the idea of selling the note, but still not sure.  Your web site is very informative, this is something we might be interested in.  Looking forward to hearing from you.



So, here I’m talking about the deal:

And then I responded to them:”Dear Jennifer,It was a pleasure to speak with you today, and I look forward to helping you and your husband navigate the current situation for the best possible outcome.  To summarize, I see you have 3 options:

  1. Try to sell the entire note for as much as $150,000 (the note balance is $412,000, but the value of the property is $350,000. Anyone who buys this note will expect to eventually have to foreclose, so they need to buy at a price that ensures they can still profit after paying taxes and insurance out of pocket while not receiving any payments on the note.  Foreclosure can take up to 18 months if the buyer decides to file BK, and it’s possible that the property could be in poor condition by the time the defaulting parties are out, and that the market will be even softer at that point.

  2. We can see if my partner, who does traditional loans, can refinance him.  If he can get regular financing (meaning, he actually has decent income and credit), then we will finance him for as much as the lender will approve.  It could be somewhere in the ballpark of $300,000, but you would walk away with more money on a short refinance than an outright sale of your note.

  3. You can work out a loan modification directly with the Payor.  You can reduce the principal balance and the interest rate and make it as easy as possible for him to continue (or start) paying you.  Your return would significantly decrease, but you may be able to avoid massive principal reduction with this technique.  You could hire me to help you negotiate this, and you may want to have him put the property in a land trust in exchange, so you eliminate your exposure to foreclosure from here on out.

Thank you for the opportunity of working with you.  Let me know which way you are leaning after you have the chance to chew on things this weekend.

Best regards,


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