Note Holder’s Handbook
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The Note Holder’s Handbook is intended to help you understand more about the note you carried back when you sold your house, land or other real estate. It is written for the layperson. In other words, it is written for someone who is not a real estate specialist. Many topics will be discussed, including the following
- How much is your note really worth?
- Why record keeping is vital to your note’s value.
- A simple technique that can avoid tax problems.
- What to do when the payments are late.
- What to do if the payments stop and when to foreclose.
- A simple step you can take to verify the safety of your note.
- How to get top dollar if you sell all or part of your note.
In Section 1 of the Note Holder Handbook, we will review some basics of seller carry back notes. It might be a good idea while you’re reading this section to refer to Appendix A that is a glossary of real estate financing terminology.
In Section 2, we will show you an example of the creation of a seller carry back note in order to illustrate several points. Chances are very good that you sold your property for less than you think. We’ll show you why.
In Section 3, We will describe the steps you can take to assure the safety of your note. We will also describe how to maximize your note’s value and how to make sure the payments are paid on time. Section 4 will also describe how to handle late or delinquent payments. We will describe alternatives to foreclosure if the payments stop altogether. Sometimes it can even be to your benefit when the payments stop. We’ll explain.
In Section 4, we will show you several ways to sell all or part of the note that was created in the example of Section 2. You’ll see why selling part of your note is like having your cake and eating it, too. Section 4 concludes with a discussion of tax reporting for note holders. You’ll see why an amortization schedule for your note is vital. Get one for your note now, click here.
Section 5 describes how a note is valued and how to get the best offers on your note when you sell.
We invite you call us if you have questions about your note. Call J. Massey at (800) 584-4898.
To Order your Note Holder’s Handbook complete the form below. (Please allow 3 to 4 weeks for delivery.)