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Updated over 12 years ago on . Most recent reply

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Bradley S.
  • Tampa, FL
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Help buying a note

Bradley S.
  • Tampa, FL
Posted

Hello all. I am a fairly experienced real estate investor with no experience purchasing notes. I have come across a property in Tampa, Florida that was sold with seller financing a few years ago. The owner has since defaulted on the note and the note owner is willing to sell at a significant discount. We have reached an agreement on price, but I don't know where to go from here.

My understanding is that I need to purchase the note and receive an assignment of the mortgage. Does anyone have a contract that they use for this, or an attorney in Florida who is familiar with buying notes at a discount? The real estate attorneys that I know focus on foreclosure defense.

Thanks in advance for any assistance!

Brad

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