Who Pays Costs When Buying Notes?

Wondering how costs are handled when buying mortgage notes?  You are not alone!  Here is a question we recently received from a note broker: If the note buyer wants the seller to pay the closing costs, does the note buyer back the closing costs out and then send me the offer or do I back the closing costs out myself along with my fee and then present the offer to the seller? If I back out the costs, where would I get the cost of the closing to do this? Great question! There are generally two … [Read more...]

Real Deal #145 – Iowa Real Estate Contract

Welcome to Real Deals! It’s always easier to learn from real life so here we share information from actual owner financed transactions. While a note and mortgage or deed of trust are the most common real estate financing documents, sometimes seller financing utilizes a Real Estate Contract. … [Read more...]

What is Due Diligence?

Before a note investor will pay cash to a seller for future payments, they perform what is called “due diligence”. This is really just a fancy word for research.  You can simplify the process by being prepared for these common requirements. … [Read more...]