Ways to liquidate fast? - Posted by Tim


#1

Posted by C. Smith on December 01, 1998 at 22:27:53:

I am a mortgage investor that deals with cash out at closing if you contact me I can give you some information on some of the programs we offer investors like your self who are trying to sell quickly.


#2

Ways to liquidate fast? - Posted by Tim

Posted by Tim on December 01, 1998 at 20:28:12:

I have a property nicely remodeled and worth about $140K. What are the ways to sell it quickly? One way would be to seller finance the house and selling the note at the closing. Are the note buyers readily available and any recommended names? What kind of discount can I expect at the sale of a note?
Thanks in advance
Tim


#3

3+ ways - Posted by karp

Posted by karp on December 02, 1998 at 08:15:55:

Okay maybe there are more.
I think the issue here is you haven’t addressed what YOUR critical need is.

If it is cash you are in need of, lower the price to under market, have a mortgage professional such as myself prequalify the heck out of the buyer and slam dunk it.

If it is speed you need, offer terms or some seller carryback to make the qualification go faster for the buyer. Just be aware of where this will put you (ie with a 2nd position note, etc.)

Offer a combo. Find out what the buyers “selling” point and address that. Decide whether the agent you may or may not use is going to hustle. Offer to pay an extra point in commission for a quick sale.

As far as selling a note for cash as a sort of dual close. Lots of people can do that, the challenge here is it is a niche play and more often than not will result in a greater discount AND take longer than some sort of conventional financing with you offering an assist of sorts…

Remember all these are predicated on you being aware of what YOUR needs are first…

Thanks,

karp
aka Karl Hartley