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Updated over 12 years ago on . Most recent reply
Help buying a note
Hello all. I am a fairly experienced real estate investor with no experience purchasing notes. I have come across a property in Tampa, Florida that was sold with seller financing a few years ago. The owner has since defaulted on the note and the note owner is willing to sell at a significant discount. We have reached an agreement on price, but I don't know where to go from here.
My understanding is that I need to purchase the note and receive an assignment of the mortgage. Does anyone have a contract that they use for this, or an attorney in Florida who is familiar with buying notes at a discount? The real estate attorneys that I know focus on foreclosure defense.
Thanks in advance for any assistance!
Brad