I Want To Sell My Promissory Note: How Can I Proceed?by Lisa W. Real Estate Note Seller
In simple terms, a promissory note is a payment settlement on papers between the buyer and the seller, containing terms and conditions for payment. It is a legitimate note that is generally constructed for tangible property where the seller takes a promise to pay for the property instead of complete lump-sum at the time of purchase.
Having a promissory note on the place of cash is generally considered as
a fair investment idea because you continuously receive settled payments on
monthly basis. But there are times when buyers of property says that I want to sell
my promissory note.
This happens in following scenarios:
- · The interest rate mentioned in the note is very low now.
- The borrower does not make payments on time and this calls for your unwanted attention towards it.
- You have to pay taxes to the income made and the value of the promissory note is reducing every day.
So, you want to sell the promissory note and for that you went on to some of the banks that buy the notes and provides information of how you can sell it. The next is you started finding a note broker on internet and amongst the number of available options, you have conversation with few of them. And unfortunately, a few number of return calls which is disappointing.
If someone says that I want to sell my promissory note, then he needs to understand the following facts:
· (1). The notes are purchased by investors who considers making returns for long term and these investors can either be individuals or companies.
· (2). The value of the note is determined by the interest value, the lone to value ratio, the terms for note, the security for it etc.
Find a real investor or broker for the promissory note and save yourself from the fake investors in the market who do not have value for your money.
Created on Dec 31st 1969 19:00. Viewed 0 times.