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Updated almost 7 years ago,
Estimate on Selling Note?
Hi all-
This is my first foray into selling a note - I have a waterfront lot in Burnet, TX and have an interested buyer who wants to seller finance. The terms are as follows:
Purchase Price: $55,000
Down Payment: $5,500
Note: $49,500
Interest: 7%
Property Value: $75,000
Buyer Credit: 2 buyers - one's score is 620, other's is 720
I'm wondering what price this note would bring if sold? I want to use a RMLO to package this note for sale, just trying to get an estimate on what it would bring. Thanks!
Ryan