#1 Trusted Buyer Of Notes In Indiana

The Hoosier State was the nineteenth state to join the Union – on December 11, 1818. The name “Indiana” refers to the native American tribes that once inhabited the area. Though fewer than 8,000 indigenous Native Americans remain today, they continue to play an important role in the economy and culture of the state. For detailed information on Indiana real estate trends, check out our website HERE.

If you sell a property using owner financing, you create a mortgage note. You may keep the note or sell it to someone else. Each has its pros and cons. Most relate to whether you need cash now or if the note is easily saleable later.

Setting Up Your Note

To make your notes most secure and marketable remember these strategies:Make sure that the credit ratings of potential buyers are checked before selling them anything. Try to get something sold to someone with a good credit score.You need to collect at least a ten percent (10%) deposit, which usually means collecting at least twenty percent (20%).Always have an experienced lawyer or title company work with your when preparing contracts for sale.

Selling a Note

While receiving income on an investment loan sounds like a good idea at first glance, it isn’t always the best option. For example, if you’re going to be putting up with issues like:Late or missing paymentsUnpaid property taxes and/or unpaid homeowner’sDamage to property that reduces its marketable worthLong foreclosure times before you get back the house after a default

A good Indiana mortgage broker can guide you through the process of buying a mortgage loan and selling a mortgage loan. You should choose a reputable mortgage broker who has experience in both areas. A good mortgage broker will answer your questions about how much your mortgage will cost, what types of loans are available, and how to get started. They may also offer advice about whether to buy a new home or refinance an existing one. Finally, a good Indiana mortgage broker will work hard to find you the best possible deal on your mortgage loan.You will send copies to the seller and agree on a price.A lender will typically pay for a drive-through valuation and a preliminary report, which together usually take about two to three days.After signing the agreement, you’ll be assigned a document to assign your notes to the company. Then, you’ll need to return these signed copies with your original notes.