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Celina Lai

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John (buyer) looking to purchase a house and he finds one that he wants to buy from Tim (Seller). Tim owns the house free and clear and equity=$200,000. John cannot get the $200,000 from a bank.

They both agreed on $215,000 for the purchase price which includes a $15,000 seller concession as down payment and closing cost.

Since Tim wants to sell quickly, they agreed that John will give Tim monthly payments installment until the $215,000 is paid off. A note is created for 215,000 by Tim’s Accountant and Lawyer. Tim is the note holder (mortgagee) and John is the payor of the note (Mortgage Loan).

John agrees to pay John back over 30 years with a 10% interest. They write this all down as a legal agreement DEED and sign it.

For this document and the obligation to pay is called a Note.

As Note Seasoned, it will be able to sell two ways, one just wait for the years to come to get paid that 215,000 OR you can sell that Seller Financed Note at a discounted price of about $205,000 to a Private Buyer that I work for to get that CASH for you now.

The Notes can range from 7% to 10% IR, seasoned 1 months or longer (Note that are season 1 to 5 months will get a lesser deal that 6 months and higher but will be sold). There are also some special case where the note is sold at seller closing. (no seasoned)

I am also offering a referral fee, please see my Note section on my page