Selling My Mortgage Note

Written by Patricia Skinner
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What are the advantages of finding a mortgage note buyer for the average home seller? This little-known but highly effective practice can save you a lot of money. Here's how.

First of all, you can ask a higher price for the property because the buyer doesn't have to meet strict institutional guidelines, or pay additional points and fees. Put that extra amount of money into the asking price for your home. Secondly, you can defer the capital gains from the sale by taking part of the money at the sale and part of the money at a later time.

How Do You Sell The Mortgage Note?

You might be saying, is selling my mortgage note going to be a big hassle? Will it take time? Not at all. Most private mortgage buyers will purchase the note right at closing, or within two weeks after.

Additionally, you can have the option of a partial purchase. In other words, you can sell part of the note for immediate cash, and keep the balance as an investment, to be cashed in at a future date of your own choosing. You will be saying, selling my mortgage note was the smartest thing I ever did!

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