Sell Your Real Estate Note for Cash
Selling a real estate note to Porch Swing Funding is simple.
As someone collecting note payments, you have the option to sell your entire remaining balance or sell only a portion of the balance if you wish.
We handle everything from start to finish. Our job is to listen, educate, and meet your needs.
How We Make Selling Real Estate Notes So Easy
Has anyone ever given you a check that you later endorsed to someone else? (“Pay to the order of…”) The person you endorsed your check to was given the right to deposit the check and receive its value in cash.
Checks and real estate notes are very similar to one another. Actually, real estate notes are endorsed in much the same way when they are sold.
Selling real estate notes involves the following steps:
- Contact us for a quote
- Share loan documents and pay history
- Sign a “commitment to purchase agreement” allowing us to begin due diligence
- We order and in most cases pay for property, title, and borrower credit reports.
- We pay for closing costs and either schedule a mobile notary to come to you, send closing documents by mail, or work with a local title company to handle the closing.
- We or the title company forward funds to you.
For a closer look at who buys real estate notes and how they operate, see our guide to working with promissory note buyers.
We set ourselves apart by doing the heavy lifting, taking time to explain things clearly, and keeping you updated along the way.
Don’t believe we make it easy?
Read our reviews: Porch Swing Funding BBB Profile
How Long Does Selling A Real Estate Note Take?
Most transactions where we purchase residential real estate notes close and fund in about 30 days.
Issues related to title, pay history, or documents can cause transactions to require extra time. Truthfully, when you have what is known in the industry as “dent and scratch” real estate notes (notes with issues), you want a company like Porch Swing Funding to guide the way and bring our knowledge to the process.
We always want to get you paid as quickly as possible.
Call us at (866) 399-2871 to talk about your note.
What Changes For The Borrower When Selling A Real Estate Note?
Selling real estate notes really only means your borrower will make the same payments per the same terms to someone other than you. They shouldn’t expect anything else to change.
What Information Do You Need?
Selling a real estate note is similar to selling a used car. When selling a car a buyer would want to know not just the make and model, but also how many miles it has, what condition it’s in, and maybe have a mechanic take a look under the hood.
When evaluating a real estate note we consider:
- The collateral securing the loan
- The borrower’s credit profile and ability to pay
- The balance and pay history
- The note’s terms
- The property’s title history
- Taxes and insurance
- The paperwork and legal documents
To begin with, we will ask for:
- The property address
- The date the property sold, the amount it sold for, and the downpayment amount
- The current principal balance
- Next payment due date
- A copy of the signed promissory note
- A copy of the recorded mortgage, deed of trust, or another type of security instrument
- A copy of any loan modifications or forbearances
Some people prefer to submit information via our web form, and others prefer to call. We’re happy to accommodate whatever method works best for you.
Want a full walkthrough of the process? Read our step-by-step guide: How to Sell Your Mortgage Note.