Do note buyers commit to purchase before note is seasoned?

Question

In my short time learning about notes I have learned that most note buyers who say they can purchase notes at closing actually can NOT. With that being said, is it common practice for note buyers to commit to buying a particular note while waiting for it to mature?

Of course with the note being structured and recorded correctly with favorable terms.Not speaking of a monetary commitment but more of a written one.

Account Closed · Answer

hey ty, i did sell a note thru a note broker from biggerpockets...the contracts were signed before seasoning, and we jsut had to wait for the note to season if i remember correclty.

Marc Faulkner · Answer

Ty, I am not aware of any note buyers or brokers that are currently doing simultaneous closings at the moment.  Three months seasoning seems to be the normal right now.  With that said there may be some small local buyers out there that I don''t know but, there can't be anyone able to perform on a national level or else I would be aware of who they are.  
What I have seen is a lot of brokers promising the ability to be able to put these together and then be NOT be able to perform or they will stall so that the note holder is forced to collect a few payments using any tactics they can...
If the buyer has at least 15% down, and a credit rating of 600 or better, we can give you a commitment in advance, if you structure the note using our suggestions.  We can fund the deal on the day the 3rd payment is collected.  These green notes do not bring top dollar but, they can be sold.  A lot of note sellers will just chose to sell a partial given the options this early in the game.