A mortgage or promissory note is a legal agreement between a lender and a borrower that specifies payment amounts and deadlines.
Selling a mortgage note can be overwhelming, especially if you haven’t sold one before. But with the help of a trustworthy exchange company like Simanda Investments, you’ll be surprised to find out how easy it is to sell a mortgage note.
How to Sell a Mortgage Note
With a mortgage note, you can get a steady supply of cash that can help settle bills and other money problems. However, this promissory note also comes with a lot of responsibility and processes which you may not be able to handle. But with a reputable note broker company like Simanda Investments by your side, you can rest assured that the processes will be straightforward and smooth. So here’s a guide on how to sell your mortgage note easily.
Find a Licensed Broker
If you want to sell your notes, the first step is to find a qualified mortgage broker to help you out. Mortgage note companies like Simanda Investments have a comprehensive list of buyers readily available to buy your notes.
Request for a Quote
After finding a reputable mortgage note exchange company, you will have to request a quote. Mortgage companies usually allow sellers to apply for a free quote. But if you want to get a free quote and high-quality customer service, Simanda Investments is the best option.
Provide Copies of Your Documents
To move forward with selling your mortgage note, you must have these documents: a settlement statement, mortgage note, and trust deed. Without these documents, you’ll be unable to sell your mortgage notes.
Terms and Conditions
After your quote has been sent and acknowledged, your mortgage note broker will prepare the terms and conditions for the notes. The terms usually include the number of years remaining on the mortgage, interest rate, and other important information.
Sales of Agreement
The sale of agreement is when you have to sign off ownership of the notes to the new buyer. Your mortgage notes broker company will prepare the sales of the agreement. Before signing the agreement, ensure you understand every detail of the terms and conditions.
Hire a Professional Mortgage Notes Broker
Finding a buyer for your mortgage notes might be difficult, particularly if this is your first time. Still, you can expect a smooth and high-quality transaction with an experienced and licensed mortgage note broker like Simanda Investments.
Simanda Investment is a recognized and qualified mortgage note broker with a proven track record of buying mortgage notes from sellers.
To speak with a mortgage note specialist about your notes, visit Simanda Investments’ official website.