Posted by Jasonrei on August 01, 2003 at 24:06:55:
- Find note buyers in advance and get their parameters and requirements.
- Find a buyer that meets those requirements (pull credit reports, get tax returns and personal info, etc), set up sales terms that meet those requirements (adequate down payment), and make sure the securing property meets their requirements (might want to get an appraisal in advance from someone the note buyer uses).
- If you want to make the property sale contingent upon your selling the note in a simultaneous closing, put a statement in the contract something like this “This sale is contingent upon seller finding a buyer that will pay $XXXXX, in a simultaneous closing, for the Note referenced herein.”
I probably shouldn’t be giving advise when I’m tired, but I’m sure someone else will add to what I’ve suggested, or correct as needed.