Questions about selling your note.

First-lien real estate notes. That includes owner-financed mortgages, deeds of trust, and land contracts (also called contracts for deed). Most are on houses. Land, mobile homes with land, and small rentals are case by case.

My focus is Ohio, Indiana, and Michigan. If your property is somewhere else, send it anyway. If it's not a fit for me, I'll tell you. I may connect you with a buyer I trust, and if I do, I'll tell you up front.

It depends on the payer, the property, the paperwork, and the terms. Most notes sell for around 70% to 85% of the balance. Strong notes with a short term can bring 85% to 90%. Try the calculator for a rough range.

You're trading years of future payments for cash today. A buyer needs a return for waiting and for the risk that the payer stops paying. Most notes carry a lower rate than buyers need, so the price comes in below the balance.

Yes. You can sell a set number of payments for cash now. When those payments are made, the note comes back to you. Tell me how much cash you need and I'll tell you how many payments it takes.

You'll usually have a quote within one business day. Most sales close in about 4 to 5 weeks. The title search and the property value check take most of that time.

No. The quote is free and there's no obligation. Closing costs for the property value check, title search, and attorney, usually about $900 to $1,250 total, come out of the offer. My written offer lists each one.

The quote is based on what you tell me. I confirm everything during due diligence. If something turns up that changes the price, like unpaid taxes or a different balance, I'll show you what it is and why.

Yes, once, near the end. It's a short call to confirm the balance and that everything is fine with the property. After closing, they get a letter telling them where to send payments. Their terms don't change.

Often, yes. The price will be lower, and it depends on how far behind they are and what the property is worth. Tell me up front so I can give you a real number.

Maybe. Some problems can be fixed before a sale. Send me what you have and I'll tell you where things stand.

It can. If you've been reporting the sale on the installment method, selling the note can move the rest of your gain into this year. Talk with your CPA before you sign. I'm not a tax adviser.

LJH Investments, LLC, an Ohio limited liability company. I'm Larry Hoffman, the Managing Member. You deal with me from quote to closing.