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Seller Financing
We are experts in seller financing. Lorelei Stevens, our President, is licensed by the State of Washington to teach seller financing to real estate agents to fulfill their continuing education requirements.
Selling your note should be a trouble-free experience. By learning a few basics about seller financed notes, you can prevent problems and get the best price for your note.
You can only prevent problems by creating the note properly. If you make mistakes in creating the note, they will remain to haunt you. Mistakes in your note will likely lower its value, and could even make it unsalable. Here is what you need to know to create your note without mistakes:
First, when a buyer makes an offer on your property, get a credit report on the buyer. To learn how to check your buyer's credit,
click here.Second, to be prudent, get a Financial Statement from the buyer. You can obtain a Financial Statement Form, sometimes called a Loan Application Form, from any bank, savings and loan association, mortgage company or real estate office. To learn the importance of a Financial Statement,
click here.Your note should be negotiable. This is a legal term and it does not simply mean "bargaining" as in the common usage. "Negotiable" is a complex term that requires careful attention in order to correctly create a note. For information on how to make a negotiable note,
click here.Your buyer may want to take over your payments. This is called an assumption. For information on what you need to know about assumptions,
click here.Your buyer may not have enough money to pay a full down payment and ask you to accept a second lien on the property to make up the difference. For what you need to know about accepting second notes,
click here.If you are paying on an existing note, your buyer will do best by giving you a larger note that pays on your smaller existing note. This is called a "wraparound." To learn how wraparounds work,
click here.Most notes are paid in full. Occasionally, however, there may be a problem where your buyer doesn't pay and you must deal with the default. To learn how to deal with defaults,
click here.If you would find a handbook useful, you may obtain a copy of Seller Financing at $27.00 per copy, plus $3.00 shipping and handling. Contact us for details.
Use this practical web site to sell your note for fast cash.
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Wall Street Brokers, Inc.
500 Wall Street, Suite 405 - Seattle, WA 98121-1577
Voice: 206-448-1160 - FAX: 206-448-8476
Email
Website: http://www.wallstreetbrokers.com
Larry L. Stevens, Founder and Lorelei Stevens, President