The number one most trusted note buyers in Wisconsin

Wisconsin is our 23rd largest by land mass and encompasses approximately 65,500 square miles of territory. From Racine to Superior, there are many different types of property for sale here. Most of these homes were purchased through owner financing, and the owners of these properties are receiving monthly payments.

The process of buying a home can be complicated and confusing, especially if you’re not familiar with the terminology involved. In order to make things easier for you, we’ve put together a list of common questions about purchasing a home, along with answers to help you understand the process better.

After the first payment comes in, the note owner has the option of either keeping the note or selling the note to an experienced Wisconsin note investor like Seascape Capital LLC. There are some potential pitfalls to holding onto the note for the seller including:If the buyer fails to pay back the loan, the lender may be forced to take legal action against him/her.If you don’t take care of your house properly, then its worth may decrease.If you don’t pay back your loan, then you expose yourself to losing your house and having to pay off the debt first before any of your other creditors get paid.

Selling To a Note Buyer

When selling notes, you need to consider several things before choosing a particular seller. Among these things are whether or not the seller has been reliable in the past, whether they’re willing to pay cash for the notes, and if there are any special conditions (such as restrictions on who may buy them) that must be met by the seller.Experienced and competent people tend to be those who’ve been running their own businesses for a long time.Highly rated by the Better Business BureauLicensed as a realtor in at least one state.You’d evaluate it yourself and look online for any bad reviews.

After choosing a lender like ELM Capital, the next step would be for them to give you a fair rate.You’ll be required to pay for the property, and you’ll need to provide the lender with any documentation they request.After receiving the documentation, the Wisconsin note buyers begin their due dilligence process by ordering an independent appraisal of the property, usually taking one to two weeks to complete.After that, they’d get a title commitment from their title insurance company to make sure that the title was clear and that there were no other liens against it. Depending on the response time of the title company, this could take anywhere from one week to two weeks.You’d send the assignment documents to him/her, who would then sign them and return them to you along with his/her original notes and mortgages.Within one to five business days, the funds will be transferred to your bank account.

ELM Capital is a reputable company with an A+ rating from BBB and has been helping Wisconsin homeowners for years.