What To Do After You Sell Your Property And Take Back a Note!
By Vernon Brabham
When a seller takes back a note for part of the purchase price it is much easier to conclude a sale. Why? One reason is that it makes it easier for the buyer, since banks have fairly strict lending rules, even if a buyer has a good credit rating. Another reason is that the seller can often give more lenient terms.
What if after the sale the seller decides that he really needs part, or all, of the selling price now instead of waiting months, or years. He doesn’t know what the money will be worth in the years to come and he doesn’t know if the buyer will make payments as promised. Of course, there is always the option of foreclosure, but who wants that?
In such a situation, what many sellers do not know is that the note can be sold. If the note-holder does not need all of the balance he can sell only a portion of it and still have income in the future. This can be done, and frequently is, no matter what he has been told. This can result in something like having his cake and eating it too! There are many reasons that a note-holder may need money today rather then in the future; a health issue, sending a child to college, an investment opportunity, and similar situations. So, if any of this applies to you, the reader, or to anyone you know you should investigate the possibility of selling your note and getting money today instead of a long drawn-out future.
About the Author:
Vernon Brabham is a long-time entrepreneur and writer. If you liked this article and want more information go to www.IWillBuyYourNote.com for a free report.
