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How much is my Note worth?
Back in April I sold a building that I owned. The purchase price was $650,000 the buyer put $250,000 down. I did seller financing for 12% plus a finance charge of 8 points of the purchase price which we also financed and wrapped into the deed. The principal balance is $452,000 amortized for 30 years 10 year balloon and the first 3 years are interest only payments of $4,520 which have all been paid on time with no issues. The note was drafted by an experienced attorney and is secured by a 1st deed of trust. I have gotten a bunch of letters and calls from people wanting to buy the note and I'm not desperate to sell because I'm making good money on holding the note, but I am curious what a good offer would look like. I would want to sell the whole note if I was to part with it. I would not be I interested in selling only part of the note. Any insight is greatly appreciated.