Sell your note
If you provided seller financing for your real estate transaction and want to sell the promissory note to a note buyer in California, you're not alone.
Many people sell their note to raise cash for a new deal, pay unexpected bills, or simply to have more money in the bank.
If you're considering selling your note and want to explore the different options available, the easiest way to learn how much your note is worth is speak with one of our trained specialists to learn the ins and outs of the note buying process in California.
Here's what to expect:
First, provide us with the proper documentation.
In order to buy your note we will require copies of your:
Deed of Trust or Mortgage
Payment History, Verified for the Last 6 Months
Hazard or Title Insurance Policy
Having your paperwork ready will help speed up the process and help us avoid unnecessary delays in underwriting.
Next, we'll begin underwriting and order an appraisal
Our underwriting team will review all of the documentation on your note, ensure that it meets our risk criteria, and then order an independent, third-party appraisal.
Lastly, we can pay cash for your note
Once all of the paperwork is done, we'll match your note with one of our in-house funds or investors, and make an offer to buy your note. After we get your OK, we'll open escrow with an independent, third-party company, send you the closing docs for your signature, and wire your funds after everything is recorded.
The entire note buying process in California takes between 30 - 45 days to complete . . . and with McKinley Mortgage can be as easy as 1, 2, 3.