What is a note?
A Note is a promise to pay a debt, with the
promise secured by a mortgage, trust deed or contract, or other
type of collateral. Such a note, when properly
constructed, can be sold to raise immediate cash.
The value of a note is established by a number
of factors, including: type and location of property,
condition of improvements, structure of note and mortgage,
credit of payor, market interest rates and much more.
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Partial Purchase Options
Here's a great way to obtain thousands of
dollars without taking out a loan and without giving up all
rights to the property.
Perhaps you need extra cash for a major
purchase, medical or college expenses, taxes, or an investment
opportunity. You can obtain the money you need from us -
by selling us some of the payments due on the mortgage you hold.
For example, let's say you need $30,000.
We'll purchase a specified number of mortgage payments from you.
(The number depends on the size of each payment.) Then,
for the period of time specified in the partial purchase
agreement, the buyers of your property will send their monthly
payments to us, instead of you.
After the specified number of payments are
made to us, the mortgage and note revert back to you, and you'll
collect all future payments.
It's a convenient way to obtain the cash you
need now, in one lump sum, instead of over a period of months or
years, while you continue to hold the mortgage for future
income. And, of course, depending on the terms of your
mortgage, the amount can be much higher than the example of
$30,000.
This plan even works with Balloons.
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Minimal Discount Method
We may also pay you the equivalent of your
current balance by using our "MINIMAL DISCOUNT
METHOD." We can explain in person how this works and
customize it to your note.
NOTE: THE TERMS AND CONDITIONS OF THE
MORTGAGE YOU TOOK BACK WILL NOT CHANGE.
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Getting a Quote
To receive an offer, provide us with
information about your note. We will ask you for the
interest rate, the original loan amount, payment amount, and the
term of the note.
We will then give you one solid quote for your
note. We do not negotiate any quote we give because we
will be giving you our best quote right up front, based on the
information you provide us.
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What We Do
Harris Note Investor's, L.L.C. specializes in
the purchase of owner-financed real estate notes and other
payment streams. We can provide cash for real estate
owners who have sold their property and financed it for the
buyers. Owners of these notes may find they need money for
the purchase of another home or investment opportunities,
personal emergencies, estate settlements, etc. or desire to have
cash instead of collecting a monthly payment for several years.
Harris Note Investor's, L.L.C. can provide the
cash you need. We have several different purchase plan for
you. In order to find out more information and to obtain
an approximate price for your note, call us, or fill out the
online form on this web site, and we will discuss which of our
plans will work best for you.
Harris Note Investor's, L.L.C. has a network
of over 100 Independent Investors Nationwide that includes all
50 states. We can provide complete closing services
nationwide. We have the ability to close fast and get your
cash in as little as a few weeks.
Our professional service will result in a fast
transaction that gets you cashed out quickly and professionally.
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Steps to Selling Your Note
Call us, or fill out the online form on this
web site, with the terms of your note. We will give you a
quote within 48 hours on most notes. Once you accept our
offer, we will sign a commitment to purchase your note.
You then provide us with the documents listed earlier, to start
our process, which includes having a new appraisal and credit
check completed at our expense. Because we do pay for
these procedures, we ask in the Commitment that you allow us 30
days to complete the process and fund your note, even though it
may not take that long to fund.
We will update the title policy and make sure
all the documents are in order and will then arrange for a
closing at your local title company. As soon as the title
policy and appraisal work have been done, we will be ready to
close and fund the Note.
We look forward to working with you in the
future and will be glad to assist you in the sale of your Note.
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How Does the Process Work?:
As mortgage investors, we carefully analyze
all aspects of the property sale including:
1. The legal
documentation.
2. The physical property.
3. The background of the payors.
4. The credit of the payors.
5. The condition of the title.
