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 When
your clients would like to sell their Mortgage Note or Promissory Note
for cash, where do you
turn for help? We make it easy for you!
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Frequently
Asked Questions
About Selling Notes
What is a note and how does it
work?
Promissory
Notes have been used for centuries until
the early 1800's when banks and conventional
lenders realized that they could create Promissory
Notes for a profit primarily for real estate
transactions. A Promissory Note is a legal written
document between two or more parties that states
a promise to pay, and includes the terms of
the original amount of the loan, the down payment,
the interest rate and the length of time in
which to complete that promise.
Today, Promissory Notes are still used frequently
in order to reduce the additional costs associated
with banks and conventional lenders for real
estate transactions. Promissory Notes are often
used for many other types of lending situations
other than just real estate and are generally
created by utilizing an attorney. -Top
of Page-
I'm receiving payments now. How do I get
cash now instead of waiting 20 or more years to
get paid back?
CoreNote Investments can help you
solve this problem. Our firm is affiliated with
other member firms of investors in all fifty states
and Canada who are interested in purchasing your
note (or your client's note) so you can have the
money you need now. Late payments or non-payment
worries become a thing of the past! -Top
of Page-
Who invests in notes and why?
Large
banking firms and pension fund managers are
the biggest investors in Promissory
Notes because they are considered to be
extremely safe investments. Investors such as
CoreNote Investments and our member investor
firms know the yield of the Promissory Note
prior to purchasing the note and therefore can
calculate their investment risk. -Top
of Page-
How much will it cost for your service?
We
do not charge any fees to look at purchasing
your Promissory Note or your client's Promissory
Note. Assuming that the terms of the note are
what we are interested in purchasing, we will
purchase it ourselves or we will locate a buyer
through our network of investor firms who will
purchase your note (and/or your client's note)
within a matter of several days. -Top
of Page-
Why is my note discounted?
Like you, we as investors must account for the inflation factor. Therefore, we must calculate what the payments that we will be receiving from the purchase of a note will be worth into the future. Here are a couple of quick examples: Remember when McDonald's hamburgers were 15 cents? Or how about when gasoline was 35 cents a gallon or less? What are we paying for those items today? This is why and how we calculate future payments and your note is purchased at a discount. -Top
of Page-
How long does it take before I can receive my cash?
That depends on you. We ask that you provide us with all of the necessary information on this site in the secure space provided. We will then let you know if we are interested in purchasing the note or if we are able to find an investor elsewhere. Once we have completed that step, we will ask you for copies of all of the necessary requested documentation. The faster you can provide the documentation to us, the faster you will be able to receive your cash. If all of the requested documentation is received from you in a timely matter, then normal closing time can be as quick as two (2) to three (3) weeks. -Top
of Page-
How and where do I receive my cash from?
It's very simple and easy. Simply provide us with the name, phone number and address of the nearest title company you would like to use, and we will make all of the necessary arrangements to wire the funds directly to you. -Top
of Page-
Are there tax consequences for this type off transaction?
In most cases no. However, every situation can be different. We are not professional tax advisors. We strongly recommend that you consult your local professional tax advisor in the state or province in which you reside. -Top
of Page-
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SELL NOTES
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