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? … [Read more...] about Who Pays Costs When Buying Notes?
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. The Terms - Real Estate Contract The seller agreed to accept owner financing on … [Read more...] about Real Deal #145 – Iowa Real Estate Contract
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...] about What is Due Diligence?