Sell Your Home Note Online

Not every note meets the criteria of an ideal note, but that doesn't mean it's unsellable. Notes with various conditions still hold value for potential buyers. One such example is a previously delinquent note, where the purchaser had once failed to make payments for a certain period. Owner Carry Back Notes Bought (OCBNB) doesn't purchase currently delinquent notes. However, we will consider notes that were previously delinquent if the past due payments have been settled, and the purchaser has demonstrated a pattern of timely payments.

Selling a note is a decision that may not suit everyone, but it can prove highly beneficial and profitable for many note holders. When opting to sell a note, the seller receives a lump sum of cash in exchange for the future payments tied to the note. This method of receiving a one-time payment offers unique advantages that cannot be matched by a prolonged payment plan. The immediate influx of cash can be used for various purposes, including seizing investment opportunities, settling debts or loans, or achieving time-sensitive goals. Opting to trade a discount on the total note value for immediate cash has proven advantageous for numerous note holders. Typically, the first step in determining whether selling a note is the right choice is to contact a note buyer and obtain a quote.

One crucial factor influencing the purchase of a note is frequently the remaining balance on that note. OCBNB acquires notes falling within the range of $20,000 to $2 million. These criteria are implemented to reduce risk and ensure that the effort invested in the purchasing process is justified.

Traditionally, there are two primary methods for selling a note, depending on your interest in future payments. The more common approach is a full buyout program, where the buyer acquires all remaining note payments in exchange for a single lump sum of cash. This relieves the seller of any further responsibility in managing the note. The second method is a partial purchase. In this arrangement, the investor buys a specific number of payments from the note, assuming responsibility for those payments until they are received. After these purchased payments have been fulfilled, the note holder can choose to sell more payments or reclaim the note to resume collecting payments. This option suits individuals who require an immediate lump sum while retaining the option to receive future note payments. Additionally, the partial purchase option often yields a higher cash amount for the seller because it entails less risk for the investor, who is only acquiring a portion of the note. Regardless of the chosen program, sellers must follow similar steps. To obtain a quote for your note, you need to provide specific information, including property details (address, type, sales price), down payment, current owed balance, interest rate on the balance, payment amount, delinquency status (if any, and the duration), existence of a balloon payment (with its due date), and any outstanding debts on the property. Additionally, you should share your contact information. A brief 5-10 minute phone consultation usually suffices for investors to present several options. If you accept an offer, you can typically expect payment within 20 business days after closing.