Answers to Frequently Asked Questions
- What is a note?
- What if I want cash now instead of waiting 30 years to get paid back?
- Who buys notes
- How much is this going to cost me
- How long will it take before I get my money
- Why would I want to sell my real estate note?
- How can I find out how much my real estate note is worth?
- How soon do I get my money?
- How much cash can I get?
- Are there any additional benefits to me?
- If I convert my real estate note to cash, will it affect the person(s) paying me?
- What types of property do you purchase?
- How is a discounted lump sum worth more than the full balance of my note?
- What are the steps involved in selling my note?
- Can this be done through the mail?
- Will I incur any “out of pocket” expenses to complete the transaction?
- How long will it take to receive my funds?
- a. A written document that states a promise to pay, and the terms which include the amount, interest rate and length of time in which to fulfill this promise.
2. What if I want cash now instead of waiting 30 years to get paid back?
- a. That's where US CASH FLOWS come in. We work with investors who are interested in purchasing your note (or your client's note) from you so you can have the money you need. This way, you don't have to worry about late payments or non-payment any longer!
- a. Actually, there are thousands of individuals across the country who buys notes. Just like banks buy mortgages, private buyers buy notes as investments. They collect payments over time for a steady stream of income.
4. How much is this going to cost me?
- a. There is no charge to you, the note holder.
5. How long will it take before I get my money?
- All deals vary, but normal closing time is 2 to 3 weeks once we have lined up a buyer.
6. Why would I want to sell my real estate note?
- When you convert part or all of your real estate note into cash, you gain several advantages in addition to immediate cash:
- You don't have to worry about the payments you receive each month slipping away on life's little expenses.
- You receive a substantial sum of cash right now - enough to accomplish some major goals.
- You don't have to worry about collecting monthly payments or servicing your note; US CASH FLOWS will handle it.
- You don't have to worry about whether the taxes and insurance premiums are being paid each year to protect your investment; US CASH FLOWS will handle it.
- You don't have to worry about whether your purchaser will continue to make their payments.
7. How can I find out how much my real estate note is worth?
- One brief consultation with a US CASH FLOWS Investment Analyst will answer all your questions, enable us to clearly present several options in writing, and help you decide for yourself whether turning your real estate note into immediate cash - or keeping it - makes the most sense for you. The choice is yours.
8. How soon do I get my money?
- Once you accept the cash offer and all the papers are in order, you can receive payment in 10-20 business days. US CASH FLOWS believes in fast, efficient service!
- Each real estate note is carefully reviewed to determine the maximum value of the note. US CASH FLOWS has many options that will meet your individual needs.
10. Are there any additional benefits to me?
- Yes. When you consider the impact inflation can have on the value of your note over its life, cash in hand today can be expected to be worth a lot more now than years down the road.
Another great reason to sell your note is to eliminate the hassles and concerns associated with collecting the monthly payments, worrying about whether the insurance and taxed are paid etc.
11. If I convert my real estate note to cash, will it affect the person(s) paying me?
- a. No. All terms and conditions set forth in the original note remain the same. Your purchasers simply send their payments to US CASH FLOWS.
12. What types of property do you purchase?
- We purchase real estate notes on virtually all types of property: single-family homes, multi-family homes, farmland, commercial, recreational, vacant land, and mobile homes with land attached.
13. How is a discounted lump sum worth more than the full balance of my note?
- As an example you have a $43,500.00 real estate note with 262 months of payments remaining that you were getting monthly payments of $426.35 a month, and we quote you a cash value of $30,981.49. If you were to invest this lump sum of at prevailing stock market average for 262 months (the remainder of the note term, the cash value may increase to $60,000 – $75,000+).
Or you can keep receiving your existing payments, of course, most people simply fritter these small payments away, while a lump sum of cash offers a far more powerful investment opportunity.
14. What are the steps involved in selling my note?
- The following is an overview of the steps involved in selling your mortgage or note:
- QUOTE – US CASH FLOWS will first provide you with a free, no obligation cash quote, which may include a number of purchase options to suit your individual needs.
- DOCUMENT REVIEW - Upon your acceptance of the quote we will ask for COPIES of your loan documents (mortgage/deed of trust, note, closing statement, etc.). The documents may be sent via fax, e-mail, or regular mail.
- DUE DILIGENCE - Upon receipt of the documents we will perform our due diligence including title search, appraisal, etc.
- CLOSING - Closings are typically set up with a title company agent or escrow company conveniently located to you.
15. Can this be done through the mail?
- Yes. The sale can be completed confidentially by mail, express courier such as UPS, or Federal Express or in person.
16. Will I incur any “out of pocket” expenses to complete the transaction?
- Ordinarily not!
17. How long will it take to receive my funds?
- Generally a few days if the file documentation is complete. Typically closings take place within 10-15 business days from the time a decision is made to move forward.
