Showing Your Home While Keeping Your Privacy In Tact

Showing Your Home While Keeping Your Privacy In Tact

Make no mistake about it, home buyers will open nearly every closet and cabinet within your home. In fact, you want to encourage buyers to move and touch things within your home, but you should also learn how to keep your private information hidden during an open house.

Any part of your home that will remain after the sale, is open for investigation. This means that built in cabinet drawers; dining room china cabinets (that will be sold with the house); and bathroom medicine cabinets are all beckoning buyers to snoop around. Well, technically, they aren’t snooping if they simply want to see how large a piece of furniture is, but you should still avoid leaving things such as comparative market analyses laying inside of a drawer. In fact, you should keep all personal information fairly well hidden at all times.

Never leave opened mail strewn throughout your house. Just imagine what sort of offer a buyer might propose if they see a stack of credit card bills awaiting payment. Buyers may also note letters from the IRS; mortgage payment notices; or anything else that may put you in a compromising position.

While most home owners leave mail stacked on the kitchen counter, place your mail safely inside of a desk drawer, and make sure that the drawer cannot be opened. When it comes to other personal items, make sure that you disguise them as well.

Believe it or not, a diploma or wedding photograph should not be kept on the wall. Why? Well, certain buyers will apply instant biases depending upon what sort of information they find. For example, if you leave a law degree plastered on the wall, some buyers may immediately feel as though a lawyer cannot be trusted. In the same manner, if a buyer sees a recent wedding photograph, they may start to form an opinion about the type of religion that you practice. It is best to keep all personal items (even books and music) out of sight. Also, keep your closets tidy and in tact.

You may think that leaving certain clothing items hanging in your closet is not a bad idea, but make sure that the items do not say anything too personal about you. While most home owners do not think about personal items, do yourself a favor and clear out your home prior to any open house.

Make sure all personal details are hidden, and make sure that your home does not tell anyone all about your life.

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Seller financing aids the seller and buyer

Seller financing is one field of the real estate industry that aids more than the house purchaser and the individual house seller. Home mortgages held by sellers are likely customers for investors that purchase seller financed home mortgages. For many people outside the real estate industry, this little observed market is large business for many. In order to understand how this market works, we have to recognize both sides of the business of owner will carry financing.
In a down market such as we are experiencing now, credit freezes up and conventional lenders inside the mortgage industry approve very few new mortgages unless the candidate has higher than average credit. For those people with less-than great credit, acquiring a loan thorough traditional channels is non-existent. Fortunately for these people, there is a large quantity of houses on the market with sellers willing to unload.
Some of these sellers are ready to offer what is called owner will carry financing which means they will operate as the lending institution. Rather than having to pay a credit business each month the customer will pay his monthly mortgage to the home seller. When financial times are good and lending institutions are offering creditowner carry financing is at a low. More people can obtain credit thorough conventional means.
The seller will carry the note until the note is paid or he sells the cash note to someone else, in this case a mortgage investor. Mortgage note investors are people that specialise in buying and selling money transactions. Notes come in many different varieties. Just about any transaction where a agreement is signed and a repayment plan is the mode of repayment, can be bought and sold.
Seller financed notes are the most widely recognized with the mortgage industry as they are real estate based. The market is built easily enough as sellers many times desire to free up the cash they have tied up in the cash note they are holding on the property. The seller may need the capital for any amount of reasons. He may want to make further investments with superior returns. Crisis conditions might have come up that force him to liquidate his holding. Children might need to go to university. The motives are endless.
Whatever the case may be, there are loads of investors eager to acquire these seller held mortgages. These investors purchase these money transactions largely for investment motives growing their portfolios. Though, income streams are the major purpose. By getting just a few notes the investor can generate a significant monthly income stream that will continue until the contracts are fulfilled or sold to another person.
In come instances, these mortgage notes are defaulted on at which time the investor forecloses on the house, keeps all the funds he has collected on past repayments then sells the property to another buyer. Seller financing aids many individuals involved in a real estate transaction. Individuals that can not acquire a mortgage through established means, single sellers as well as those investors within the notes industry.
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Q.   I own my single-family home with no mortgage outstanding, and I'm gainfully employed in a secure government position. I plan to retire in about five years. I have lived in my home for the past 20 years, but now find it to be more burden than haven. I am planning on selling it and renting a nearby townhouse condominium. I listed my home with we thought was a competitive price. But it has been on the market for nearly six months, and I've received only two low-ball offers. I reduced the price twice.

I've been told the banks are causing a problem. There are a lot of self-employed folks with cash who cannot get mortgages. I am thinking about offering my house for sale with 70 percent seller financing. My hope is to get it sold for full price, earn 5.5 percent interest on my money and, if the buyer defaults, get my house back down the road. I can do a 5-, 10- or even 15-year balloon mortgage based on a 30-year payoff schedule. I have been told that I am not obligated to accept any buyer; if I don't like their credit, I say no.
I believe offering seller financing will give my listing an edge and might get some action. I am thinking of insisting that the buyers prepay the first year of homeowners' association dues and an estimated water bill because I understand that these items can become liens against the property. I am also planning to ask the buyers to pay into an escrow account each month to cover the semiannual real property taxes and the annual hazard insurance premium when they become due. That way, I can ensure that these critical bills are paid because I will be paying them from the escrow account. 

What's your opinion?

A.   I strongly endorse this seller-financing approach, as long as you get a substantial down payment. And, since you indicated you will be getting 30 percent down, that should be sufficient. This plan will also provide you a regular monthly source of funds for many years, depending on how long you are willing to wait to get all your money, plus interest. Although the principal portion may or may not be taxable (because you are selling your principal residence, you are entitled to exclude the first $250,000 of capital gain from your taxable income), the interest portion of each payment will be taxable to you.

I recommend preparing an amortization table to show you and your buyer how much of each payment is principal and how much is interest. Amortization tables are available at sites such as Bankrate.com.

Seller financing is an excellent means of obtaining the best price for your home, but it is not without risk. One concern is that a 5.5 percent interest rate might look fine now, but rates can fluctuate wildly. Ideally, you wouldn't want to hold that 5.5 percent note for more than a few years. If you think interests rates will fall, you should consider imposing a prepayment penalty in your promissory note. Prepayment penalties are governed by state laws.
If you think interest rates will rise, consider offering to take back an adjustable rate mortgage. An ARM is a mortgage that has a fixed interest rate for a certain period of time, after which the rate changes at set intervals. In your case, assume that the 5.5 percent interest rate would be fixed for five years. At the end of the first five-year period, the interest rate would adjust annually. This adjustment feature protects you should interest rates rise five years down the road.
The adjusted interest rate is a function of an index (assume the prime rate as reported by The Washington Post) plus a margin of one to three percentage points, for example. On the adjustment date specified in your loan contract, you would add the margin to the index to get the adjusted interest rate. You might want to consult a financial planner or stockbroker to assist you in determining which index and margin to use.

Make sure the promissory note that the buyer signs is fully negotiable, that is, transferable to another party. There is a fairly brisk market in these types of seller-financing notes. Once the note is seasoned, with the buyer having made regular payments for six to 12 months, you will be able to sell it (albeit at a discount) if you ever want the pile of cash. You will also want to make sure the loan is secured by having your buyer sign a deed of trust. Have that deed of trust recorded in the land records office as a lien against the home. That way, if the buyer defaults, you can foreclose and get the house back.

I'd recommend insisting on an automatic debiting feature so monthly payments are taken from the buyer's checking account and deposited into your separate "My Old House Note Account." That way, you can go online every month and monitor the payments.

You should do a credit check with all three credit-reporting bureaus and obtain your buyer's FICO score from Myfico.com. Prior to the closing you should insist that the attorney conducting the closing provide you with a closing-protection letter from his title insurance underwriter. The letter protects you against any problems with the settlement attorney.

At settlement, make sure you obtain a lender's policy of title insurance at your buyer's expense. Finally, have the buyer pay all credit report and closing costs, including the expense of having the promissory note and deed of trust prepared and the deed of trust recorded.

This is not legal advice and should not be acted upon without obtaining your own legal counsel.
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Should You Sell Your Property as a For Sale By Owner?

Thousands of homeowners ponder the question of whether or not to sell privately. This is a question that gets a lot of attention on the internet, and also spawns an enormous amount of erroneous information. Many people want to sell their own properties, but are afraid of "hidden" problems that may rise up to cost them money, or cause them grief. Fear is the number one reason that people are willing to pay a Realtor to sell their home. Unfortunately, this fear is often unfounded, and all too often promoted by someone with a vested interest in taking your money to sell your property.

For some time now, many articles that pretend to promote selling privately, while in actual fact, they are designed to discourage you from taking on this task.

Obviously, such articles do not come right out and say "Hey don't do it!", but instead they tell you all of the seemingly bad stuff that "could" happen if you dare try it. They paint such a grim picture of selling privately while "encouraging" the reader, that nobody would try it if they chose to follow the advice of such articles.

This article will cover, albeit briefly, the reasons that many people should, or should not sell on their own. I will try to dispel the immense amount of misinformation on the subject of selling privately, and in the end, hopefully, you'll be in a better position to choose for yourself whether or not to sell privately.

In my opinion, selling privately is not for everyone, but most people can do it easily enough, and succeed.

First some basics. You've probably heard the term FSBO. This acronym to describe the term For Sale By Owner.

First question. Do you need a license to sell privately? To the best of my knowledge, no license is required in any American state or Canadian province in order to sell property privately. In fact, your right to sell privately is protected by law.  I will suggest that you check with your lawyer.

I am not a lawyer and therefore cannot give you legal advice.  So check with your lawyer before you do anything.

How much time will it take to sell my property? I am NOT going to try and tell you how long it will take for you to find a buyer who will transact a sale. I will talk about the time it takes to market a property on your own in order to give you a sense of what sort of time commitment you'll need to make to do it correctly. The answer, surprisingly, is very little time, about an hour or two a day at most. In fact, once you've taken the time to set up your sale, which is something I will talk about in another article, it will take little or no time at all, unless you're showing your property to a prospective buyer.

What is the general process of selling a property privately? In many ways it's exactly the same as selling with a real estate agent. Here is the process of selling a property, privately or not. First, the property is advertised to let the public know that it's available for sale. Prospective buyers inquire about the property, ask questions, and arrange a viewing appointment. The prospective buyers come and see the property, sometimes more than once. If they like the property, they make an offer in writing on a legal form. You (or your agent) and they (or their agent) negotiate the terms of the offer, the price, and closing date. Then once everyone has agreed, and all parties have signed the offer, everything goes to the lawyers so they can do their stuff to effectively convey title, and exchange monies etc..

It seems pretty straight forward, and usually it is. First you'll have to market the property, show it to prospective buyers, and negotiate the terms of the sales agreement. Once the agreement has been signed by both the Seller and the Buyer, then your lawyer will do the rest for you. Also, don't forget to get contact information for the Buyer's lawyer. Your lawyer may need this information to begin the process with the other attorney.

More articles will follow.  One thing to consider when selling FSBO is to provide financing for the prospective buyer.  You can become the bank and take back the mortgage.  You can provide financing with a mortgage note or trust deed for a short period of time, then sell the note for cash.

Please read the articles on our blog for more information.  Click here to email us with your questions.

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Consolidate Your Debts

Are you facing difficulties in paying back the loans
because you have two or more pending debts? If your answer is yes, then
debt management is the solution for you. It is a process which
reorganizes your debts to more affordable repayments terms. It clubs
your multiple high interest unsecured loans, into a single loan with
lower interest rate.

Various financial aid consultants are
deployed by the lenders, who negotiate with your creditors on your
behalf. An expert from financial institute selected by you meets your
creditors and makes an arrangement after which, you just need to pay
certain amount to the institution and not directly to creditor. The
amount paid by you includes fee waivers and discounts on debts owed by
you. This service is also open for bad credit history holders. After
the loan consolidation, you just have to make a single monthly payment,
which covers for all the loans which get consolidated.

You can
ask for quotes from various lenders if you want to get this service.
The quotes are provided free of cost and they enable you to explore the
difference between costs of debt management options provided by
different loan providers. This management is offered to you keeping in
mind, your financial situation and credit status.

With the help
of a proper research about the financial institutes offering this
service, you can certainly spot competitive interest rates. With the
help of this management, you will no more have to face harassment from
different lenders, as you will only be dealing with a single loan
provider.

In order to strike the suitable deal, you can switch to
the Internet. With the help of on line mode, you can come across various
financial institutions and lenders providing you with this management.
You can make comparisons between different terms and conditions offered
by different lenders and then select a suitable deal.

Debt
management helps you to settle your scattered debts and multiple
financial obligations. It is an affordable way to deal with your debt
problems.

If you are holding a mortgage note, you can sell a mortgage note and get cash now.

If you have a mortgage note you can sell your mortgage note for cash now. We have buyers that want to purchase your mortgage note. We can close in 2-3 weeks. Click here to email us for more information.

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Selling your Property in a Difficult Market

If you listen to the media hype, you're probably thinking that you need to hold onto your home until the economy bounces back; that you'll never offload your house in this market. While it's true that sellers in some regions are finding it tough to sell right now, there are still buyers out there looking for a home.

The first step you need to take to ensure a successful sale of your home is to hire a reputable listing agent. While many people try the For Sale by Owner route first, most discover that selling a home is time consuming, complicated, and requires more specialized knowledge than they have.

Many homeowners who try to sell their home on their own become overwhelmed with trying to market their property to buyers. After all, it takes more than a yard sign and a couple of balloons to attract large numbers of viable buyers.

A good real estate agent will organize and host open houses for you, taking care of the scheduling, showing buyers around, and answering their questions. For these events, they will likely create professional brochures or fliers that feature the listing details of your home, as well as highlight the property's best features. This gives buyers something to bring home with them, and will make a positive impression.

In addition to traditional marketing methods like open houses, today's agents will also develop a solid advertising campaign for the internet. With over 80% of buyers starting their home search on the web, listing your home on the Multiple Listing Service and on other reputable websites is an important step in getting your home noticed. Thousands of agents and potential buyers will be able to access details and photos of your home from the comfort of their living room.

Having a web savvy agent is absolutely vital in this market, but you also want an agent who has been in the industry for a few years-particularly one who has experienced the ups and downs of the housing market. He or she will be able to provide insight and practical advice about how best to go about getting your home sold in a difficult market.

With your listing price set and marketing campaigns in place, a realtor will also help you negotiate with buyers to get the best price possible. Agents are trained and skilled in the art of negotiation, and will make the entire transaction much smoother for everyone.

Successful sales are possible even in slow markets like this one, but it's important to have an ally with know-how to guide you along the way.

Do not forget about seller financing with a mortgage note. We can help you with selling a mortgage note or creating one to take back financing. 

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How to make sure you get the highest price for your mortgage note.

How to make sure you get the highest price for your mortgage note.

1. Buyer's credit.
   The better the credit rating of the buyers, the more valuable your note.
   1. If they are a husband and wife, find out the credit rating of both of them. many time the wife is earning more than the husband.
   2. If you don't have a credit report, you can order a free report from us.
2. Sale price of real estate.
   If this is MORE than the actual value of the real estate expect to take a bigger discount when you sell the note. An experienced note buyer wants to have some equity in the property in case the buyer defaults.
3. Third party buyer.
   If you sell to a family member or friend you WILL have difficulty collecting your payments.
4. Actual, provable value of the real estate.
   If you are taking back a first mortgage note there is no legal reason to have an appraisal. But if you intend to SELL the note, any experienced note buyer will want to know what the property is worth. It may be harder to access the property and have an appraisal done after you close on the sale.
   
5. Loan to Value ratio. LTV.
   For a note to be marketable the total LTV, that is including the first and second mortgage (if any) should be no more than 75% of the actual value of the property. However, if the buyer's credit is good, this 75% could refer to the Investment to Value or ITV. In other words, the amount the note buyer is investing in the note. Thus if the property is worth $100,000 and the buyer has put down a 10% payment and has a $90,000 mortgage, you could get $75,000 (75% of the value) for your note.
6. Who are the buyers?
   If the buyers are husband and wife they BOTH need to sign the note. If the buyer is a corporation, trust or LLC then make sure the principals also PERSONALLY sign the note. If they refuse to do so this could be an indication they will let the note default if the deal doesn't work out for them. Of of, this need not apply if the buyer is a substantial corporation. (I wouldn't ask Bill Gates to personally sign on a note from Microsoft. :-) But how about a note from WorldCom or Enron?) If the borrower is NOT a substantial corporation then the note could be either unsaleable or only saleable at a much larger discount to reflect the lack of personal liability.
7. Seasoning, aging.
   There is no doubt that a seasoned note, where the buyers have made payments for a year or more, is easier to sell and will get a higher price  than a new one. But of course you won't have this option if you want to do a simultaneous closing.
8. Institutional lender allows secondary financing.
   There are many institutional lenders, banks etc. that will not allow secondary financing behind their note. Why not? After all, their lien is senior anyway. One answer is simply that they do not want to the borrower to be stretched to make their payments. Also they would sooner the buyer put down more cash or pay for mortgage insurance (a fancy way of saying a higher interest rate.)
9. Loan properly secured.
   If your mortgage is a second mortgage, it should be a properly recorded mortgage or deed of trust to comply with your local laws. Any documentary and intangible taxes should be paid. Without this the mortgage may be unenforceable.
10. Title insurance.
    You should have proper mortgagee's title insurance.
11. Rights with respect to first mortgage, if you hold a second.
    If you are holding a second mortgage it should contain language to the effect that a default on the first mortgage is a default on the second. Also that you, as second mortgage holder have the right to check on the payment status of the first.
    
12. Interest rate.
    Other things being equal, the higher the interest rate, the higher the price you will receive. But be aware of laws concerning Usury and Predatory lending. A below market interest rate will demand a hefty discount to be saleable.
    
13. Length of note to short.
    Typically it is hard to sell a note with a short balloon, or a balloon due in just 6-12 months. The note buyer will be concerned that the borrower won't be able to refinance and pay them off.
    But a loan with for example, 3-5 years to run, and a 30-year amortization is going to be saleable, other things being equal.
14. Length of note too long.
    The note buyer won't usually want to wait 30 years to get paid off, but these notes can often be sold to institutional note buyers.

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Mortgage Note Buyers Helping You Get The Most Money For Selling Your Mortgage Note

All mortgage note holders want to know more about selling their mortgage note. Don't you?

Well, the popular way to get a lump sum of cash for your future payments is by using a mortgage note buyer.
Most people don't realize they have different creative options when using a contract buyer that can keep them from getting the most money for their owner-financed mortgage note.

It may seem scary or challenging, but truly it is not, unless you do not know the answer to this question.

Can I receive cash now and still hold part of the note? In other words, do I have to sell all of my note at once?

At first glance, this may seem obvious that this is the best choice because it will get you the most money up front. For some people, it is. When it comes down to it, it is up to you and your needs. If you need or want a large all cash payment and want to be out of the deal, rid of headaches and worries of a default buyer, avoid destruction of property, taxes and insurance, and would like a larger sum of money now instead of collecting small monthly checks, then a full sale is best.

But let 's take a look at some more needs. If you are just looking to get a
larger down or some money to take care of some immediate needs or
pleasures, then a partial payment may be better. Maybe you just want to
lessen the amount of strain or burden of carrying the note and would like to sell just a portion of each monthly payment. Then a split payment option will be better for you. (This way you can go on vacation, consolidate debt buy a new car...)

What is a partial? A partial is the purchase of a portion of an income streams remaining payments, or a purchase of a portion of a specific payment, or any combination thereof.

There are many times when this may make sense. Let 's say that you have a new note and it has not been seasoned (length of time that a note has been in place and paid on), it has little or no down payment, and has poor credit by the payer. In this case, it would be better to sell only part of the future payments. It will get you more money in the long run because the mortgage note buyer would have less risk should the buyer default on the note. Then after the note has experienced seasoning you could sale the rest of the payments at a much higher percentage.

Let 's look at an example of this:
Sales price: $100,000
Down payment: $5,000
Original note balance: $95,000
Payers credit: poor
Seasoning: 1 month
Appraised property value: $100,000
Term: 360 months
Interest: 10%
Remaining payments: 359

This is a low quality note because the buyer is not putting much money down,
the pay back period is very long, and the buyer 's credit is bad. But you could still make out like a bandit by selling it as a partial. Let 's say you sold the first 120 payments (10 years) for $51,000. After the 120th payment, the contract would be returned back to you. The balance owed to you would be $86,391.12. You would then start to collect the payments from then on. Let 's see how this looks.

Sales price: $100,000
Down payment: $5,000
Original note balance: $95,000
Contract written for 30 years @ 10%
Monthly payment: $833.69
Note buyer purchases first 120 payments for: $51,000
Total cash to home seller $56,000
(down payment + cash from note buyer)
After 120 payments contract is returned to you with a balance of $86,391.12

Total money to you: $142,391.12 (including interest). Not shabby for a house that sold for $100,000.

So, what is a Split?

A split is a purchase of a specified monthly amount. If you're getting to the point where you would like to enjoy some of the finer things in life, while still receiving a good monthly income, then a split payment is a great choice for you.

For example, if the monthly payment on a seller-financed note is $1,000, we could purchase $200, $500, $750, etc. of the monthly payment. This will allow you to get cash now and then still collect a monthly income from the note.

All in all, each situation is different and may need to be tailored differently to meet your needs. I can't say exactly what you will get for your individual situation, but I can say that you should walk away happy. Selling your mortgage note should be much easier and more profitable now that you are armed with some creative options.

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Most Often Asked Questions About Selling A Mortgage Note

Mortgage note buyers exist to help you create, sell and understand your mortgage notes, contracts for deeds, trust deeds, and promissory note

both residential and commercial.

Below you will find 5 frequently asked question about selling your mortgage note.

5 frequently asked questions, that most note sellers have about selling their owner-financed mortgage note are:

1. How much cash can I get? There are many factors in determining the offer price for selling a mortgage note The main four are equity, seasoning, interest rate, and credit of payer.

The more of these you have in your favor the larger lump sum you will get. This is why many mortgage note buyers offer a free no obligation quote.

If you look through some of the questions there, you'll see that they are simple and only take a few minutes to fill out.

These type of questionnaires are designed to keep you from having to dream about how much money you will get. The coolest part about it is, if nothing else, you know how much money you could receive if you wanted it.

2. How do I sell my note? Selling your note is easy. The first step is finding and contacting a mortgage note buyer or contract buyer and simply telling them that you want to sell your note.

This initial contact could be by phone, email, or through filling out a free mortgage note quote form. More than likely, if you are reading this, then you are at a site that can help you get a cash offer for your note.

If not, then there is a link to a good website and company above, that can give you a "No hassle, No obligation" quote.

Once you give the contract buyer some required information, they will be able to get back to you, usually within 24-48 hours, with an offer.

3. How long does the process take once I decide to move forward? After you have given the mortgage note buyer the required information, either by calling, email, or filling out an online form, they will get back to you in 24-48 hours.

Usually, it only takes 2-3 weeks to complete the deal and have a huge certified check deposited, or wired to your bank account.

4. When I convert my note to cash, how will it affect the person(s) paying me? Not at all. The terms, payment, and amount owed stay the same.

This is a really neat thing about selling your mortgage note. You can get a large sum of cash and it doesn't affect the person(s) paying you. Sounds like a "win-win-win" situation to me.

5. Where would the closing take place? Usually, at the closest title company near you. Sometimes it takes place in the town or city in which the property is located...which brings up another question.

Do you have to be there for the close? Nope, not generally. The person handling the title and closing the deal can send you the closing package. This is all done to make it as convenient and as easy for you as possible.

As you can see, getting a large sum of cash now for your future mortgage payment is an easy process that can put a lot of money into your pocket for a vacation, to consolidate bills, and buy or enjoy any other necessities or pleasures.

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Mortgage Note Questions - How To Sell Your Mortgage Note

When it comes to selling real estate, one of the biggest obstacles  sellers face is a so-called “depressed” market. Even when a property  is highly desirable, it can be hard to get the price you want in  this real estate environment. You could end up losing a lot of time,  money, and opportunities, waiting for a “perfect buyer” who may  NEVER materialize!
The traditional solution is to drop your asking price. But this  common strategy doesn’t always work in your favor. In fact, it can  work against you, making your home seem undesirable and your  position seem weak.

But there IS a way to turn this challenge into a profitable  opportunity!  I am not selling anything. I am in the business of paying cash for  mortgage notes and trust deeds.

Keep in mind that it has to make financial sense. Although having regular income is a nice idea, there comes a time when you might need a lump sum of cash for an investment, a large purchase or just to pay.

A cash flow notes statement documents the amount of incoming and outgoing cash and its equivalents. Only cash sales are recorded in a cash flow statement – all future sales including those made on credit are not declared.

 Most banks refuse to accept a short sale or modify the terms of a mortgage unless the owners are numerous months behind in payments. The homeowners come to the bank to ask for help to avoid foreclosure. Individuals sell structured settlements to get liquid cash. They can be sold to special financial institutions. The main advantage of selling structured settlements.

In situations where you are holding the sell mortgage notes and receiving payments from the sale of commercial and residential real estate, and you are want to cash in on those payments, there are service agents who provide help. This technique has been the key in making up an estimated 20% of all private note sales.

Right now, thousands of people across North America are stuck with investments that they don’t want. They would rather have the cash now! Whether it’s a real estate note created when selling a property, a business note created when selling a business or even a structured settlement, there are thousands of notes out there that could be turned into cash!

Get cash now and forget those monthly payments FOREVER! We work with buyers who are ready to pay top dollar for your notes. If you have a trust deed, a mortgage note or any private loan, it's time to find out exactly how much CASH you could be entitled to.

    * It's Quick: Learn how to cash out in minutes
    * It's Easy: You could have cash in just days
    * It's Secure: Get real quotes directly from certified buyers

There has never been an easier or faster way to cash out of your investment. Whether you need money to pay bills... to buy a home... to fund an education... or even if you just need some spending cash... We'll show you the money for your mortgage note or trust deed!

http://www.smilingdogenterprises.com
getcashnow@smilingdogenterprises.com

Technorati Tags: mortgage notes, trust deeds, real estate notes, mortgages, fsbo, for sale by owner, money, mobile home paper, cash flows, commercial real estate, finance, financial-planning, financial planning, annuities, sell mortgage notes, buy mortgage notes, real estate funding

Financial Planning How To Sell Your Mortgage Note For Cash Now

Many people that sell their home or property choose to sell it themselves as opposed to going through a real estate agency, bank or lending institution. There are different reasons why they may choose to do this. They may be selling it to a friend or relative and want to avoid or eliminate the middle man or the buyer may not be able to obtain conventional bank funding. Another reason may be to avoid having to pay commission to a real estate agent for selling your property. If you’re selling your property for a large sum of money, the commission the real estate agency will earn can be quite substantial. When you are the seller that holds the trust deed on the property sold, things can go smoothly or problems may arise.

If you are not in instant need of the proceeds from the sale, being the “lender” may work out great for you. Many people, however, discover after a certain amount of time that they want to invest in property and need the money. If this is the case, the first question you may ask yourself is, “How do I sell my trust deed?” This is actually something you should consider at the time you sell your property. You may think that acting as a lender will be simple and quick for you and the buyer, but you may want to learn all you can about this procedure before you make a commitment.

If the buyer is having difficulties making the payments, you may tire quickly of being the “bad guy” demanding payments or collecting late fines. If I was considering selling and holding the trust deed for my property, I would research how to sell my trust deed before I signed any legal binding contract. Even though I may not ever need to sell my trust deed, I’d still want to get all the information I needed ahead of time. We can help you learn the best way to sell my trust deed at NO cost to you. An attorney can also give me information if I want to sell my trust deed and what steps need to be taken.

We will not only buy your trust deed, but often we will buy just part of it. You may want to go on a vacation, make an investment or just have extra cash available and not want to sell the entire trust deed. 

Click here to email us  Our complete BLOG List a Note on our site

Technorati Tags: mortgage notes, trust deeds, financial planning, get cash now, real estate, sell mortgage note

Get Cash Now For Your Structured Settlement or Mortgage Note

Structured settlements are financial packages or financial agreements permitting a settlement to be paid through an annuity via regularly scheduled installments either for a fixed period or for the lifetime of the claimant. Because it is tailor-made for individual cases, the structured settlement may also include some immediate payment to cover special requirements.

The payments are typically funded by annuities, reinsurance, or occasionally U.S. government obligations. The structured settlements are mostly setup for lawsuit settlements, insurance settlements, lottery awards, casino and jackpot winnings and contest payments.

Structured settlements have not always been available. In 1982, Congress passed The Periodic Payment Settlement Act of 1982 (Public Law 97-473), as a way to make large settlements more agreeable to parties and provide certain protection to victims. It also encouraged people to use them by granting them tax-free status.

As a result, many people now choose a structured settlement agreement over a lump sum payment, and courts often award them in civil actions where there will be long-term costs of living and the necessity for obtaining cash payments at some point in the future.

Structured settlements are not appropriate in all kind of cases. Since structures allow settlement funds to grow income tax-free and to be preserved to meet future financial needs, any liability case can be suitable for a structured settlement.

However, the following are cases in which structures should always be considered.

Structured settlements are designed for many types of cases though including:
- All catastrophic cases including paralysis, brain damage, severe burns, loss of limb or severe injury cases.
- Wrongful death cases where a surviving family will need a regular income to replace that of the lost spouse/parent.
- Permanent or temporary disabilities that will take extensive recovery time.
- Most of Workers compensation cases- Most of cases with a reserve or value of $50,000 or more, for example lottery or casino awards.
- Guardianship cases where there are minor children or another person who is judged to be incompetent such as a person with psychological, emotional, or mental handicaps

Structured settlements can be formed in many different ways, and their structure is basically determined by the financial needs of the claimant. The simplest structured settlements are created with an even distribution of cash on a given interim for the term of the agreement. Such a settlement could include a payment every month for 15- 20 years as an example.

A properly developed structural settlement agreement also includes the time value of money because by design, they do not pay interest. The interest is calculated in as a part of the payment. In essence, the structured settlement incorporates a fixed interest rate that is also completely tax-free as it is part of the settlement.

Benefits of a Structured Settlement:

Benefits to Claimants:

1. Choice: Allows the claimant a choice at settlement. Benefits can be received based on needs rather than a lump sum which has to be invested at risk, incurring fees.

2. Tax-free: Structured settlements provide a steady stream of cash to claimant that is completely free of tax liability, both at federal and the state level.

3. Regular payment stream: A structured settlement annuity provides regular payment stream to claimant.

4. More Secure: Maximum security since periodic payments are funded by annuities or reinsurance issued by the largest, most secure life insurance companies.

5. Structured Settlements are cheaper: Another benefit to structured settlements is that they are often arrived at without the risk and time loss of going to court.

Benefits to the defense:

1. Bridge Gaps: Helps bridge gaps between plaintiff and defendant.

2. Reduces litigation costs: For many reasons, defendants who believe they could have liability will make an offer of a structured settlement to minimize their costs.

3. Reduce settlement cost: Substandard age rating can significantly reduce settlement cost.

4. Structured Settlements are cheaper: Because they are often arrived at without the risk and time loss of going to court.

You can sell Your Structured Settlements!

Now you can sell your future monthly payments and be free of the restrictive schedule of disbursement imposed by your structured insurance settlement. There are some finance companies those will pay you a large lump sum of cash now, rather than you receiving smaller monthly payments for the remainder of the payout.

You may like to sell your structured settlement because some of the following reasons:

1. Your life situation changed since your structured settlement was created.

2. You have an emergency situation or a special opportunity occurred in your life which requires cash you do not currently have.

3. You want to start a new business but do not have the cash needed.

4. You need money for a special event in your life like the wedding of your child.

5. You have outgrown your current home but don't know where you'll find the money to buy a larger home or add on to your existing home.

You also have the options to sell your settlement to suit your requirements as followings:

- Cash payouts in full: Full Payment refers to a plan where the individual sells all the remaining future payments at a discounted present value for a lump sum payment.

- Partial buyouts: Partial Payment refers to a plan where the individual sells a specific number of future payments at a discounted present value for a lump sum payment.

-Shared payment plans: Shared Payment refers to a plan where the individual sells a portion of their future payment(s) at a discounted present value and keeps a portion.

I personally believe that most important reason to sell your structured settlement today is that you take advantage of the financial principle of the Time Value of Money, which means that a dollar is more valuable to you today than it will be in the future; you get your money before inflation kills its value.

Deal with a company that will structure the transaction based on your specific financial requirements and only acquire the portion of your payment stream that is necessary for you to fulfill your needs.

We can help with your structured settlement, mortgage note or trust deed.

Click here to email us your questions.

Click here for additional information. from Smiling Dog Enterprises

Technorati Tags: real estate, mortgage note, trust deed, structured settlement

Creative Real Estate Funding For Buyers and Sellers!

Creative Real Estate Funding For Buyers and Sellers!

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Sell Your Property FAST - for the PRICE YOU WANT!

Creative Financing Journal

How to Sell Your House Fast - At The Price You Want!

The Inside Secrets To Seller Financing
When it comes to selling real estate, one of the biggest obstacles sellers face is a so-called “depressed” market. Even when a property is highly desirable, it can be hard to get the price you want in this real estate environment. You could end up losing a lot of time, money, and opportunities, waiting for a “perfect buyer” who may NEVER materialize!
The traditional solution is to drop your asking price. But this common strategy doesn’t always work in your favor. In fact, it can work against you, making your home seem undesirable and your position seem weak.

But there IS a way to turn this challenge into a profitable opportunity!

The seller finance solution
More and more home sellers are turning to private financing to sell properties quickly and at the best possible price. Why? Because it’s a great way to attract an untapped group of potential buyers looking to buy a home outside of conventional financing.
Seller financing can put you back in the driver’s seat and turn ANY market into a SELLER’S DREAM!

You see, there is a large percentage of first-time home buyers who cannot get approved for bank funding because of their credit situation. These buyers will often offer to pay even MORE than the asking price for the opportunity to live the American dream of home ownership.
Once you understand a few secrets to seller financing, you’ll know why these “credit challenged” folks can be your “perfect buyers” and provide a positive solution for ALL parties involved…

Seller financing: a powerful tool to sell homes in a stagnant market
Private financing can lead to many more home buyers
Seller financing could help sellers get more money for their property
Sellers could still receive the cash they need when financing the sale of their property

How to Sell Your House Fast - At The Price You Want!
1. Seller financing can enable YOU to sell your home quickly and easily, at the price you want.
2. It gives the BUYER a chance to purchase a home that would otherwise be out of reach.
3. If a real estate agent is involved, it allows the agent to collect a commission from a sale that wouldn’t happen through traditional means.
So everyone wins!

Turning the sale into cash
But what happens if the buyer does not put down a substantial down payment and the seller needs additional cash to purchase another property? That’s where the beauty of seller financing comes in. It’s possible for the seller – now the mortgage holder – to turn around and sell the mortgage note for a lump sum of cash!
It’s easier and more common than most people ever imagine!
As a professional Note Finder, I specialize in helping holders of mortgage notes get immediate cash for their paper asset. In fact, if you or someone you know holds a mortgage note, I can help turn it into CASH right now!

“Seller financing is a powerful tool to remedy real estate situations that otherwise look grim.”

Liquidating your seller-financed notes
How a Note Finder Helps It All Happen For You!
There is a growing group of note business professionals known as “Note Finders” who are making it easier than ever to sell real estate notes. These folks are individuals who help Note Sellers find a buyer. Also known as cash flow specialists or note liquidators, Note Finders collect and organize information about potential note sales so that people who buy notes can easily determine if the stream of income is right for them.

Note Finders serve to inform Note Holders of their options. They also help to streamline the process of selling a cash flow by helping Note Holders to understand the process.
Note Finders know what types of note terms, interest rates, down payments, and payment schedules Note Buyers prefer, and are familiar with typical yield notes. Therefore, an experienced finder can give home owners pertinent information to structure a new note so that it sells quickly.

As a Note Finder, I have an in-depth understanding of the private note industry and I am able to approximate the value of most secured cash flows.
Keep in mind that Note Finders do not act on the behalf of either the Note Holder or the buyer and do not provide counsel to either party; we represent ourselves.

I can give you an idea of what makes a note attractive to buyers as well as present information about a note to potential buyers, but will not assist either party with the decision to finalize a note deal.


Seller Financing: Creating A Note For Quick Sale

Seller financing is a popular way to sell real estate without dropping the price. In fact, builders will often offer financing to sell the properties they’ve built in a difficult market without having to reduce their prices. When the property owner is willing to “carry back” a note many advantages can result:
1. The Seller can get a higher selling price.
2. The property can sell faster.
3. The overall sales closing ratio can increase.
4. The note can generate a steady payment stream for long-term income.
But in order to sell a house this way, the home owner needs to market the property to a different type of buyer.
Attracting “credit challenged” buyers requires a different strategy to reach a different demographic. The seller must use a more targeted marketing technique, designed specifically for the “unconventional buyer’s market.” And the most effective advertising methods to tap into this distinctly separate pool of buyers might surprise you!
Seller Financing: Creating A Note For Quick Sale

How much is a note worth?
When deciding to liquidate a seller-financed note the first step is uncovering how much the note is worth. To do that, it’s best to get inside the head of the Note Buyer.
Note Buyers always want a good deal, so most of them will usually begin by conducting a quantitative evaluation of the numbers on a cash flow. The two factors that buyers look at first are the note term and interest rate.

How term affects note pricing
To illustrate, consider these two similar notes with different terms. Assume that both notes have a balance of $100,000, with a fixed interest rate of 8 percent.
The first note has payments of $733.76 per month over 30 years (360 months), while the second note will be paid off in 10 years (120 months) at $1,213.28 monthly – a term three times shorter. For this example, assume that the buyer is looking to yield 15 percent on the remaining payments.
If no payments had been made towards the $100,000 balance, the buyer’s offer at 15 percent would be $58,030.25 for the 30-year note and $75,202.55 for the 10-year note. Based on the figures alone, you can see that the second note with the shorter term will receive a much higher offer.

An “interesting” consideration
The interest rate is also a important point for buyers when they start their note evaluation process. Specifically, buyers look for interest rates that are “just right” – neither too high nor too low. Interest rates that are too high will make it difficult for the Payor to meet her monthly payment obligations, making a foreclosure likely.
Conversely, when the interest rate is too low, many buyers find that the amount they can pay for the note typically won’t meet the seller’s needs. As a result, many buyers will avoid making offers on notes with extremely low interest rates because past history has shown that these deals can be difficult to close.

Yield vs. Interest = Discount
Here is the critical point: the amount of the discounted offer that a seller gets from a prospective buyer is usually a direct result of the difference between the interest rate and the buyer’s yield. A note with a lower interest rate forces the buyer to make up his yield from the discount instead of the interest that accrues each month. So, as the difference between the note’s interest rate and the buyer’s desired yield grows the offer to the seller decreases.
This effect can be illustrated using two notes, both written for $100,000 and amortized over 30 years. The first has an interest rate of 3 percent and payments of $421.60. The second note is amortized at an interest rate of 10 percent with monthly payments of $877.57.
If the buyer wants to yield 15 percent on the remaining payments (with no payments made yet), the offer for the first note would only be $33,342.72 on the 3 percent note, but $69,403.63 for the 10 percent note. Remember that the balance on each note was $100,000, so the discount is $66,657.28 and $30,596.64 respectively… simply because of the difference in interest rate.
Any experienced buyer who runs these figures will realize that almost all Note Holders would find a discount of $66,000 or more on their $100,000 note very difficult to swallow. A few buyers might consider lowering their personal yield requirements in an attempt to reduce the discount – if the note has other compelling attributes.
I look forward to talk with you further about any of the strategies explained here. Please contact me if you’d like to discuss this information or for help with any of your note transactions.

Seller Financing: Creating A Note For Quick Sale

Greetings,
My name is Sydney Griecci. As a professional note finder, I specialize in developing creative cash solutions; namely, I help note holders receive a lump sum of money in exchange for their secured real estate notes. I can also show home owners how to sell their property with seller finance.
Once a real estate note is created, it can be sold for cash shortly after the close of escrow. Existing notes can also be sold to achieve cash liquidity.
Additionally, if you are looking to purchase a paper asset for your own portfolio, I have the resources to show you many viable opportunities.
If you are an attorney, CPA, real estate agent, mortgage broker, title agent or escrow officer, I can assist you in helping your clients realize quick sales of hard-to-sell properties through the use of private financing.
If you would like to learn more about the creation and/or sale of secured private notes, please contact me directly.
Join my mailing list or subscribe to this publication by leaving me your contact information.

Using unconventional marketing to attract the “credit challenged” buyer

The seller’s best strategy for finding credit-challenged buyers is to advertise the property in media that is read or seen by individuals who do not have a real estate agent.
The “For Sale By Owner” section in the local newspaper is the best place to start, because that’s where the majority of home buyers go when looking for seller financing. Even in today’s Internet-dominated business world, newspaper advertising continues to be the best way to reach those looking for seller-financed deals.
All it takes is a simple sale ad including the line “seller financing available,” “credit issues OK” or “little or NO down payment needed” and you should catch the attention of the right potential candidates.
Additional buyers for a seller-financed real estate deal could respond to an advertisement on an online classified website. There are many popular and low-cost consumer websites with networks all across North America. By including the search terms “seller finance,” “seller carry back” or the acronym “FSBO” in your online classified text, you’re sure to reach many potential buyers nationwide.
How to do the deal
Once an interested buyer is located and the details of the initial payment, payment term, interest rate, and any necessary clauses are established, the buyer and seller can move forward to create a seller-financed note.
The details of the note creation are easily handled with a standardized boilerplate or the assistance of an attorney. Then the paperwork is recorded at the courthouse and the note deal is finalized.
If you need to know more about selling real estate with private cash flows, I will be happy to help. I am a professional Note Finder and I can help facilitate the transaction for you, as well as help you find an immediate cash settlement for the property seller after the note is created.
sydney@smilingdogenterprises.com

Trust Deeds and Mortgage Notes

Future Payments or Cash Now...

Creative home sellers who offer seller financing to potential buyers can often sell their houses more quickly (and at a higher price) in a slow market.

While applying seller financing techniques isn't more difficult than traditional real estate sales, it is important to recognize that the buyers looking for seller financing represent a different target market than typical bank-financed customers.

Similarly, the process for obtaining a large cash payment for the seller after a note is created varies from the conventional real estate closing technique as well.

Fulfilling a Seller's Need for Cash

In some seller-financed real estate situations, the property owner may have an immediate need for more cash than is available from the scheduled principal and interest payments. This situation often comes about when the seller needs to have enough money to use as a down payment for their next real estate purchase.

In order to quickly obtain a large proportion of the money due from the loan they just created, the seller could sell the monthly note payments to a buyer for a lump sum of cash. By locating someone willing to buy the note payments, the seller will have ready cash for a down payment or any other pressing financial need.

In order to streamline the seller finance sale situation, it is advisable to have potential buyers for the newly-created cash flow at the ready. A seller can start looking for buyers before the note is created, or even before a seller-financed buyer is "lined up". This way, the property seller could have a buyer for the payment stream ready to make the purchase as soon as the new private mortgage is created.

Locating the Right Note Buyer

But what is the best method to find these note buyers? In stark contrast to locating seller-finance buyers for the real estate itself, a classified ad in the paper is not the best option. Most people looking to purchase a stream of monthly payments do not look in the newspaper for potential cash flows to add to their portfolios. An alternate marketing strategy is required for finding note buyers.

In recent years, the Internet has become the best place to find cash flow purchasers. Using keywords such as "buy monthly payments" or "buy mortgage payments" at a popular search engine website should lead to many interested buyers.

Sometimes there are so many potential buyers, it can be difficult to figure out where to start. Also, cash flow buyers tend to have distinctly different financial parameters; an opportunity that meets the needs of one person perfectly may not be attractive at all to another. Therefore, it is often best to work with someone who could give the seller a general idea about how notes should be structured.

Using Note Finders...

In the secondary finance industry, a unique group of individuals exists who specialize in locating note buyers. These cash flow specialists - often known simply as "finders" - have a unique understanding of what most buyers are looking for. These finders are happy to work with agents and their clients. Many of them utilize online marketing and have Internet websites to facilitate the buyer location process.

The best of the bunch also look in the newspaper for property sellers offering financing, so sometimes a good finder will contact the seller if their property is advertised as FSBO. Finders specialize in helping property sellers locate buyers for secured notes.

Once in contact with a finder, the seller should explain the details of the situation. While note finders won.t be able to offer any legal advice or assist with the creation of a note, they are qualified to give general recommendations about what types of terms are attractive to note purchasers. Most importantly, note finders will be able to help locate a buyer for a newly-created cash flow.

Remember, these finders are not note brokers, meaning they will not "show" the seller's note to buyers or act as a representative. They will only pass the information along to someone who would be interested. Once a commitment to purchase the cash flow has been established, the buyer will step in and complete the deal.

When working with a property seller who needs a lump sum of cash immediately after selling their real estate, contacting a finder early in the process of creating a real estate note makes sense. By involving a qualified note finder BEFORE a note is created, the property seller can receive invaluable input about the payment characteristics that note buyers prefer.

Without this knowledge, the property could sell quickly with the creation of a new note, but the seller might end up collecting the payments long-term instead of being able to quickly "trade" the future payments for an upfront cash settlement. If the property seller will need a large amount of cash quickly, it makes sense to plan ahead for a buyer to purchase the cash flow and involve the services of a note finder.

I buy trust deeds and mortgage notes!
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