I am trying to sell my real estate contract. What can I do to sell it for the most money?
I get this question a lot.
Typical scenario:
For many different reasons someone sold a piece of real estate and decided
to "carry back" the financing for the buyer of the property
(could be a house, bare land, commercial building, whatever)
Initially, it's kinda fun to be receiving monthly payments from your buyer (also known as the borrower or payor).
But, at some point in this scenario, the note holder thinks, "these monthly payments are nice, but I can't really do what I want to do with these payments that trickle in every month. I need a bigger pot of dough."
Many real estate note holders eventually get to the point where they want to sell their real estate note.
Enter red phone funding the West's largest buyer of seller carried real estate notes.
People always assume or think they can "do something" to make their real estate note more valuable to a note buyer.
This unfortunately, is not the case.
Once your note is created between the property seller and the property buyer, their is very little that can be done to make the note "more valuable" to a potential note buyer.
The value of your note is going to be "set in stone" based on the terms and conditions that where negotiated between the note holder and the note payor way back to the time when the property was sold (at that time, the note was actually being formed and negotiated into existence between the property seller and the property buyer).
All this to say, be careful when you are selling your real estate property. The terms and facts and figures negotiated at the time of the sale of the real estate, will affect forever the marketability and desirability of the real estate note that you now carry.
Labels: note buyer, real estate note facts, selling note
