AdviSe Meeeee.... SELLING A NOTE - $55K - property value 185 k
Current property Im selling
Value 190
Offer : 185 .... 135 cash down ... 55k I hold a note @ 8%
Good buyer, qualified, just sold another property and cashed out about 140k and needs the debt to buy mine.
Im wondering how to structure and do this. And Im also wondering, hopefully from someone who buys debt, if they can advise me of the best way to do this.
Contract for deed ?
Actual Mortgage ?
ALSO .... Im really more interested in just selling this note. The buyer has 700 credit, and im assuming no problems making payments, so If all is in this ballpark, im wondering what I can realistically cash this note out for , as im not that interested in holding the debt.