Current Situation, Real Estate current situation,
We Buy Seller Financed Notes Nationwide offering top dollars.
How does the current real estate situation affect your
simultaneous closing transaction?
Since the bottom fell out of the real estate
market, we are taking a much more careful approach to all
Simultaneous Closings transactions.
These are some of the factors that are affecting Simultaneous
Closings right now :
There are too many properties
foreclosed and too many large institutions and private
investors trying to get rid of their real estate.
There is a general Credit Crunch in the
market. Credit is much more difficult and more expensive to
obtain these days.
There is too little cash available in
our financial system to purchase private notes.
Real estate values have deteriorated
across the country and foreclosures have increased to an
alarming rate to the point that the government is
considering bailing some owners out.
Even large banks got caught with large
portfolios of non-performing notes or real-estate secured
instruments and the government is trying to bail them out.
The squeeze in the stock market has
created a situation where people (including investors) are
feeling poorer and not too inclined to get into new or risky
investments. Real Estate would be considered a risky
investment at this point.
There is no such a thing as
preferential treatment in a global situation where even
large institutions are collapsing and/or need government
How your Simultaneous Closing transactions are
A couple of years ago, we were saying that
that was the perfect time to sell your private mortgage note. Unfortunately, we were right and realistically
the value of private mortgage notes of all types has decreased
considerably with no end to this in sight.
This is how your simultaneous closing
transactions are affected right now :
We'll offer you the best
there is to offer in the current market, but you need to lower your expectations
if you really want to do a Simultaneous Closing.
There may be a lag between the closing
of a real estate transaction and the purchase of the note by
us. We would let you know beforehand if that will be the
In some cases, seasoning of the note
may be required, specially if the transaction does not
entirely fit our criteria (see criteria sub-heading below).
In some cases, you may need to take
back a second mortgage (see criteria sub-heading
We have to emphasize that this is not the
best time to do a Simultaneous Closing for a property seller. Do
it only if you don't have other options and you have or need to
get rid of your real estate property for cash.
You have to make a decision :
Try to sell your property through
conventional channels (i.e. realtors, banks, mortgage
companies) in the current global financial situation.
Do a Simultaneous Closing and sell your
note in the current market for cash at a fair discount, or
Keep your real estate (or note) and
weather the current financial storm, considering the bleak
Our Current Criteria / Requirements
Due to the current market situation, we've
had to adjust our criteria to purchase Simultaneous Closing
notes. We are now only taking the following types of deals :
Principals (Property Owners) only. We'll deal
with attorneys or trustees, but no brokers or
Minimum Note value of $50,000.
(Or packages of Notes totaling $50,000)
online form filled out with
all the information available.
To maximize your payout, be
prepared to ask for 20% down (for the R/E
property)and a buyer's credit of 680+.
Anything less than this may
be feasible, but would require you taking back a
2nd mortgage, a bigger discount and may require
'seasoning' of the note.
Have available to submit by
fax (or pdf attachment by email, preferably) upon request:
- current property appraisal, if
- 30-day current tri-merge credit
record of buyer, if available.
- completed, signed & dated 1003 loan application
We want to emphasize the word current,
because property values and buyer's credit information can
change very quickly these days and our quote will be subject to
verification of both.
Once we receive the
online form, if
interested, we'll make contact, possibly request more
information and prepare a quote. If you accept it, we can move
If you have any questions, we would prefer to be contacted by
or contact form. If you call us, chances are you'll have
to leave a message. We will give priority to returning
calls to people that have filled out the
Thanks for your understanding.