If you want to sell a deed of trust note to Wyoming’s best note buyer, contact us today!

Wyoming, which has fewer than half a million residents, is also one of the country’s most beautiful states. A native of Wyoming and a graduate of the University of Wyoming, where he majored in journalism, I can attest to both the beauty and the good folks of Wyoming.

Each time, a house or other property is purchased by an individual, a mortgage loan is issued. A lot of these mortgages are then bought by investors who want to cash out their investments quickly.

Let’s back up a bit. What are some reasons someone might choose to use owner finance for buying or selling a house? There are several reasons. Here are just a few:They both wanted to get through the transaction as fast as possible without any outside complications.Maybe the seller has realized that they want to earn passive income every month.The property may not comply with banking guidelinesThe buyer may not have been able to qualify for a loan.

There are other options, but the point is creating a new note.

Setting Up a Note

Before selling a house, you should first check the buyer’s financial situation. If there are any outstanding debts, you may need to negotiate payment plans. An experienced real estate agent or lawyer can help you through these processes.

You’re now ready to begin collecting payments from buyers. When they’ve paid off some of their debt to you, then you can determine if you’d like to continue selling them notes.

Selling Your Note

You may be tempted to hold onto the cash instead of cashing out immediately after receiving it. However, there are some potential downsides to doing so. For example:A payer who makes late or no payment at allProperty taxes are due every year. If you don’t pay them, you could end up paying evenKeep fire insurance up to dateMaking the collateral less valuable for the bank

To sell a bond, you’ll need to speak with a good buyer who can provide you with some guidance on pricing and terms. You may choose to contact a reputable company for advice, such as ELM Capital. After agreeing on a purchase agreement, there are several steps involved in completing the sale.The person who buys your notes will verify the payment method used for the purchase. They’ll then ask you for copies of the relevant documents related to the sale.When the notes are received, the note buyers will look at them and decide whether they want to buy the house. They may ask for an inspection of the house if they don’t already know about it. If the note buyers decide to purchase the house, then they pay the seller directly. It usually happens within 2 weeks after receiving the notes.After that, the lender will issue a loan disbursement notice (LENDER DISBURSEMENT NOTICE) which states that they’ve issued a check to pay off the seller’s mortgage. They then send the title insurance policy to the title company. It usually takes 7-10 business days for the title company to complete their title report.After completing the due diligence, you will receive documents from the seller that assign your loan to the seller. You will then sign those documents and send them back along with your original loan document.Once the bank approves the payment, they send the money directly into your account.

ELM Capital was established in 2002 and has an A++ BBB score. It has been involved with the sale of several Wyoming deeds of trust notes, including one for $2 million.