Re: SELLING A NOTE…Devil in the details - Posted by Michael Morrongiello
Posted by Michael Morrongiello on March 23, 2006 at 15:43:17:
Gee, I dunno, I have a 1967 Thunderbird in mint condition out in the parking lot- what would you pay me for it?
A Note investor worth their salt NEEDS details and more issues provided in order to properly evaluate a Note;
Some of the questions and details needed here include but may not be limited to:
Type of property invovlved?
Actual Sales price of the property?
Buyers down payment?
occupancy & use?
Buyers credit profile and credit scores?
The actual monthly installment amount and overall repayment terms?
Was lender (a LOAN title policy) title insurance obtained?
With more of these “blanks” filled in a rough idea of the the notes cash value today can be formulated.
Best to your success;