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Q: Why should I sell my note?
A: If you do not already have a specific use for the funds, most often
notes are written at less than 8%, other investments like stocks, bonds, real
estate, even buying a different note which is just as safe will yield you more
than 8%. You will make more in the long run by selling your note and investing
in a higher rate loan.
Q: When shouldn't I sell my note?
A: If you have high taxes to pay on a gain that you took when you carried
back a note, the discount is tax deductible against the gain, however if you
took a note as an installment sale, if you sell your note you will have to pay
the tax on the money you receive. As an alternative, you may wish to borrow
against your note with us by obtaining a collateral loan. A loan proceeds check
is not a taxable event, please consult with your tax advisor, we are not allowed
to give tax advise.
Q: Are there any other options
besides selling my note?
A: As an alternative to selling your note in full, you can sell a portion
of you note, you can sell just the payments on the note, or you can take a loan
out against your note. You can sell just some or all of the monthly payments on
the note and keep the final/balloon payment in full! You can sell half of your
note and keep the other half, this will provide you with half of the monthly
payment and a lump sum of cash now as well!
Q: Why should I sell my note to you?
A: The founder of the company has been in the Note purchase business for
30 years. We are one of the oldest companies conducting cash flow purchases in
the country. We have the funds to back us on deposit. Most of our investors have
been with us over a decade. We do not have to "fish" for the funds to buy your
note.
Q: How long does it take to get my money?
A: If you have a straight forward Note secured by Deed of Trust deal, it
takes 3-5 working days to complete the transaction. If you need immediate
funding for your Note, please let us know and we will do our best to speed up
the process. We have funded note purchases in 24 hours in the past! If you have
a Structured Settlement Annuity, it takes longer, from 2-3 weeks, depending on
court availability for a formal transfer.
Q: How do I know your company is
reputable?
A: 30 years in this business is a long time, we have to be reputable to survive. We can
provide references of people like yourself who have recently sold us their note. They can
tell you that we funded at the price quoted, on time and with no surprises. We are
licensed for over 30 years by the Department of Real Estate in the State of California, Lic.# 00698424 and Lic.#
01085780. The National Association of Settlement Purchasers has accepted us as a
member as well under our Annuity Buyers USA sister company for Annuity and
Structured Settlement purchases.
Q: How can I verify that your
company is reputable?
A: The department of real estate in California has a web site to check licensees for any
complaints or disciplinary actions against them. We have never had any complaints in
30 years. Check it for your self at
http://www2.dre.ca.gov/PublicASP/pplinfo.asp
We also can provide you with the name and number of our bank officer at Union
Bank, Orange County regional headquarters in Orange, CA where we have banked for
over 20 years.
Q: How do I know I am
getting the most money for my note?
A: We pride ourselves on our ability to pay top dollar for your note. We
want your business, we do not give one price and cut you back at the end. We
have been advertising "Top Dollar Paid" for your note for over 30 years, we mean
it! Its free to get a quote, call us and if you don't like the quote, we can
give you names of our competition to compare it to, we are confident that we
will be the highest! If you have another quote from a reputable company, call us
to compare, we know all of the reputable companies, if their quote is higher and
they are reputable, we will tell you to take the other guys quote!
Q: What documents do I need to
be able to sell my note?
A: The Note, Trust Deed, Escrow Closing Statement and pay history is a
must, if you have lost any of these, we can assist you in obtaining a
replacement. We would also need the Title Policy insuring your loan, and a copy
of the fire policy as well if possible.
Q: What is the process for selling my
note?
A: We obtain copies of the documents, we order an appraisal of the property to verify the
equity, if necessary, we check that the Payor has no bankruptcy that is active.
We check that the real estate taxes are current, we prepare the proper
assignments of your documents, we ship the assignments to you, or have you meet
with a representative of our company, you send in the assignments and your
documents, we have the title company record the paperwork and we overnight you a
cashier's check. On occasion, or if requested we can arrange a closing with your
attorney, or your escrow firm if you require it, also funding via bank wire if
you request it as well for a $25.00 fee.
Q: What kind of other negotiable
instruments you buy?
A: All-Inclusive loans, Land Contracts, Chattel Mortgages, Annuity payments, Structured
Settlement payments, assignable or unassignable. Inheritance payments, almost
any cash flow.
Q: Do you buy notes secured by raw land?
A: Yes we do, however, be aware that raw land note have a higher discount
due to the inherent risks in unimproved property. Please contact us for
more details.
Q: Can you buy my annuity even though it says it is not assignable?
A: Absolutely! Even when the annuity policy specifically states
that it is not assignable, we can still purchase the payments.
Q: Do you deal with Brokers?
A: If you are a licensed Broker, we would like to hear from you. If you
do not have a license, but want to refer us a deal, we need you to purchase it
first, then call us as a principal. We can quote the deal for you ahead of time
and issue a forward commitment to purchase the deal from you as a principal.
Q: Do you buy notes from States
other than California?
A: Of course! While California is our strength, we have purchased many,
many notes all over the U.S.! Call us!
Q: Do you arrange new loans or refinance loans on property?
A: Yes! We are an approved mortgage broker / lender and have arranged over $150,000,000.00 in real estate financing over the last 30 years.
Q: When I sell my note, why don't I receive the exact same amount
of money as the remaining balance on the note?
A: Much like cashing in a savings bond early, there is a discount taken to get your cash
now. The specific amount of the discount depend on the terms of your note. We
pride ourselves on paying top dollar for your note.