Investor is selling my note... Asking for too much personal info?

[Nathan Reed]

Hi everyone,

I had bought a SF rental property in early August from an investor that was selling his portfolio. I paid him 20% down and he seller financed the other 80%. Two days ago I received an e-mail from him stating that he is selling the note off to an investment firm and needed my SS# and employment history for the firm.

I'm not just going to send him that information no questions asked. But, my question is, should I have to provide him or the firm any of this information since I am not technically a part of their transaction and what should my response be?

I've never been through this so I don't know what the norm is. Any input is greatly appreciated!

[Dave Van Horn]

Hi Nathan,

To be quite honest that is pretty normal information that he should have gotten from you prior to giving you the initial seller financing. What do your loan documents say if anything in regards to the ongoing cooperation with your lender post origination? This may be a good chance to negotiate a discounted payoff. Sounds like your lender needs money.

Best,

Dave