The Biggest Mistake That Promissory Note Holders MakeThe Biggest Mistake That Promissory Note Holders Make

The single most common mistake that a note holder makes when creating a note is they fail to check their buyer's Credit Report. It seems so simple, but it is worth repeating "Most people fail to check the credit report of their prospective buyers!!" Can you believe this? Just by doing this one simple step can save you a bunch of money now and in the future.

How so? First and foremost by checking your potential buyers credit score can help resolve your worries of your buyer's ability to repay their future debt to you. Heck, I don't know of any bank that would not check the credit score of any one of their customers seeking a mortgage. So why shouldn't you?

The second benefit of checking your buyer's credit score is what if you should ever decide to ever sell your real estate note, trust deed, or owner financed mortgage for all cash? By knowing your buyers credit score would not only benefit you now, but it would also make your real estate note more valuable in the future.

Here's why. The first thing a promissory note buyer/investor is going to require to sell your note is your payer's credit score! Your buyer's credit score is paramount to how much money you will ultimately receive for your real estate note. Of course the higher the credit score the less risky it is to a perspective promissory note buyer, thus making your note more valuable to them and ultimately you.

So, just what is an acceptable credit score concerning a real estate note? That is entirely up to you, but if it was my note I would not accept a score of less than a 550. The credit score counts for 40 percent of a total of 100 percent in rating your real estate notes value. So whether you are creating or selling your real estate note it pays to get your buyers credit score in more ways than one.

by Robert Pomerleau
References and Bibliography

Creating a real estate note? Want to find out more information, please visit our website at http://www.fastcashfunding.com for more information. Selling your existing real estate note? Why settle with a price from just one buyer? Let our national network of buyers compete for your note and pay you Top Dollar Fast. Fast Cash Funding was created in 2002 to help note holders nationwide to get the most for their real estate notes in the shortest amount of time. Well will do our most to be your real estate note buyer. As we believe in the "Golden Rule" which means the one (you) with the most gold rules. We have many clients who have appreciated our Golden Rule Policy in their behalf. Contact Us for a no obligation qoute for your note- Today.

Rated:NR/0 Votes
1 Views
Add To My Article Reading List
Add To My Article Reading List
Print Article
Print
More Article By Robert Pomerleau
More Article by Robert Pomerleau
Share
More Articles From Settlements
More Articles From Settlements
Related Articles and Readings
Capitalizing on Selling Your Real Estate Note By: David Springer
Would you like to get immediate cash for a real estate note you're holding, instead of waiting for future payments? Consider selling your note for an up-front, lump-sum payment.Perhaps you need funds for another investment, a business venture or an emergency. Regardless of the reason, selling your real estate note ...
Real Estate Note Holder Facts What to Know Before You List Your Real Estate Note By: Jennifer Parks
If you're a real estate note holder looking to list your note for sale there's some things you need to know first. The buyer of a note will ask for certain information each and every time they purchase a note.Being prepared with this information when you list a note can ...
Selling Your Note For Cash By: Sara James
To hold a note means you are accepting payments as a bank would from someone who has signed a promise to pay over a period of time for a certain amount of interest. There are many people holding Real Estate Notes that they never wanted to hold in the first ...
The Super Fast Super Easy Way to Major Holiday Cash This Year By: Jennie Pipkin
The holidays are fast approaching and if you need cash now you're in luck. I have the solution to your problems, and it could pay off for you alot faster and higher than you expect.So what's the news? If you are the owner of a real estate promissory note then ...
Sell Real Estate Notes For Top Dollar By: Steven Gillman
People sell real estate notes to raise cash quickly. A real estate note is just the loan document created when you financed the sale of your house or investment property. It could be a mortgage note, or a land-contract or contract-for-sale. The point is that the buyer is making payments ...
The information provided in this article and/or the comments is the sole responsibility of their respective authors and does not necessarily reflect the opinion of ezinepost.com. ezinepost.com  does not endorse any article and/or comments published by our web users unless otherwise noted. 

Member Panel

login to submit articles and more

StatisticsEZINEPOST.COM

  • » Active Categories: 419
  • » Active Articles:252096
  • » Active Authors:32163
  • » Active Members: 35787
  • » Statistics Updated:
    - Sat Aug 11th, 2018 01:04PM EST