Selling owner finance notes - Best buyers?
Dear BP community,
I am selling a few owner-finance notes from Texas. There are tons of nationwide buyers, anyone has feedback to give on any of these? What is the most % of an unpaid balance you can get in this market?
Thank you
Most Popular Reply
@Francois D. - Texas notes are very desirable. I've been involved with recent transactions where they trade in excess of 90 cents on the dollar.
Pricing will be determined by:
- Collateral - Location, property type, property condition, property value
- Borrower - Credit score, pay history
- Equity - Ideally 20% or greater
- Paper Type - TX title insurers no longer write policies on Contract For Deeds. Hopefully, you have Promissory Notes with a Deed of Trust.
- Note Terms
Would be happy to take a look. I feel my reputation is solid and I tend to be highly competitive.