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Updated over 7 years ago on . Most recent reply
What discount should I expect to sell a note for?
I am looking at selling an acre of vacant land with financing but I need the cash so I am looking into selling notes. I am wondering how much do note buyers pay for notes? I know this depends on many factors but I am just looking for a ballpark figure of what kind of discount to expect. Lets just say the sale price was $16500 I've collected a 30% down payment of $5k and monthly payments are around $244 for 60 months at 9.99% interest and it has been seasoned for 4 months and performing. Market value of the property is $25-$30k.
Again I know it depends on many factors but I'm just looking for a ballpark figure. 50% discount? 20%? 70%? Would it be reasonable to expect at least $7k?