I Need To Sell A Note In Indiana
I have a property in Anderson Indiana that I have a buyer that wants to buy it for $87,000 on Contract. It appraised for $87,000. He has mid 600 scores. I would love to sell itt o him and then sell the note. I have never sold a Note before. Can someone help me structure the Note and guide me to selling the note?
you could do:
$7K down payment
$10K seller held 2nd
$70K note balance
at 10.25% for 360 months would be $597.92 if you were to sell the note at closing you would get $60-65K of note balance. If you hold for at least six months you would command more because it has seasoned.
Thank you for the quick reply...That helps on structuring. Where do I sell the note? I want the cash out.
I guess what I am trying to find out "Is there any way to get the cash out at closing?"