What is a Payer Estoppel?

Prior to purchasing a seller financed note, the investor might ask for a payer estoppel.  This simple one page letter or document is sent to the person making payments on the note, mortgage, deed of trust, or real estate contract. The estoppel explains the investor is contemplating the purchase of the note, reassuring the payer that all terms and conditions will remain the same.  It then summarizes the information on the note including current balance, interest rate, terms of repayment, and … [Read more...]

Real Deal #139 – Washington State Land Note

Welcome to Real Deals!  It’s always easier to learn from real life so here we share information from actual owner financed transactions. A land developer sold 10 to 20 acre tracts of land in Northern Washington State.  Knowing land can be more difficult to finance … [Read more...]