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Updated over 8 years ago on . Most recent reply

Account Closed
  • Real Estate Investor
  • State College , Pa
173
Votes |
594
Posts

Selling a note

Account Closed
  • Real Estate Investor
  • State College , Pa
Posted

I recently sold a house the other day for 60k.  The house is currently in too bad of shape to be mortgaged.  He is actively fixing it up.  The buyer gave me 20k cash and mortgaged the balance through me.  I am charging him 7.5% annually, amortized over 30 years and have a 2 year balloon payment.  I don't really want to sit around waiting for my money.

Provided he has good credit, can I sell the note.  Is there a market for such a thing, and what kind of money can I get for it.

thanks 

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