Owner financing made easier - Posted by Sally

Real Estate Investing Real Estate Financing
1

Posted by Jacque - WA on February 06, 2001 at 15:11:55:

Thanks, I just went and read the paper…

I didn’t know that the escrow companies do this as well.

Thanks,

Jacque

2

Owner financing made easier - Posted by Sally

Posted by Sally on February 06, 2001 at 11:25:43:

Some of you may already be aware of this type of R.E. service, but I read an interesting article this morning in my local paper, the Tacoma News Tribune, and it featured a local business operating nationwide that made owner financing a much easier sell to owners that were a bit cautious about being ‘the bank’. This company does all of the paperwork involved in owner financing, such as: collecting payments from the buyer and sending to the seller, doing the end of year tax paperwork, sending delinquent notices (if needed) and a slew of other things. They have info packs to explain to a seller why it is a good idea from a tax standpoint to sell with owner financing if there would be capital gains. Unfortunately the article is not available online, but here is the link to the company. http://www.noteworld.com

3

Here is their “Wrinkle” - Posted by Tom Saine

Posted by Tom Saine on February 06, 2001 at 19:24:52:

While it may sound wonderful as outlined in the article about this “Noteworld” company that will collect and service your notes for you for a fee,etc. As you’ve discovered, there are numerous escrow collection companies west of the Mississipi that will provide the same services for you.

Note World is a company that wants to attract accounts to service so that once they are set up on their system, they can solicit these private note holders each and every month and prod them to “sell” their notes for cash.

This is the MAIN attraction in trying to get note holders to use them to set up and service their accounts. Its the potential future purchase at a discount of these owner financed notes.

Tom Saine

4

Re: Owner financing made easier - Posted by Jacque - WA

Posted by Jacque - WA on February 06, 2001 at 13:11:53:

Hi Sally,

Was this article in todays Tacoma Tribune?

Thanks,

Jacque

5

Re: Owner financing made easier - Posted by Sally

Posted by Sally on February 06, 2001 at 14:24:08:

Yes, it was in the business section. Someone also responded to me privately that most escrow companies will do this as well, which I wasn’t aware of.