If you want to sell your real estate note for cash, contact us today! We buy notes from investors who need to get rid of their notes fast

From Sioux City to Davonport, Iowa is famous for its corn fields and rolling prairies. Did you know Iowa is the only state where the east and west border is entirely made up of waterways? Between those rivers lies a huge number of properties some of which have been purchased using owner financing.

When a house or property is sold by means of an owner-financed loan, the lender “holds” the note for the purchaser. The lender may choose to hold on to the note or resell it. If the lender holds on to the note (or sells it), he or she enjoys a steady flow of payments from the borrower but faces the risk of loss if the borrower defaults.Late payments or outright defaultMissed payment for taxes or insuranceDamaged or declining real estate values

When it comes to the first point, sellers need to consider whether they want to be flexible enough to change their terms if buyers lose their jobs or become ill.

Selling a Mortgage Note

If the option to keep the Iowa real estate note is not chosen, then the next step would be to decide whether to go through the hassle of selling the note. To help determine which company to partner with, you may want to think about these factors:Can they provide you with a reasonable price?Are they competent? Did they start their own company after working for someone else for several years?Does their business have an excellent reputation?Do they hold licenses in at least one state (or province)?Do you feel confident that your contacts are reliable and interested in serving you well?

After choosing a real estate note buyer, you agree on a price for the property. Usually, the sale goes through in one of two ways:You’ll receive an offer from the note buyer, who will ask for copies of the promissory note and any other loan documentation.The investor will check whether the payee has good credit.An appraisal will be ordered and performed by the bank.If the appraisal is approved, then a lender will order a loan commitment letter.You’ll receive documents from us for assigning the note, and we’ll ask you to sign them and send them back to us.Once we agree on the terms, within one to five business days, the agreed-upon funds will be transferred into your account.

It usually take between three and five weeks for the title company to issue payment after receiving your documents. However, some titles can be issued faster than others.

Since 2002, ELM Capital has been developing a good name for itself by providing excellent customer service, and its BBB rating is A+.