Real Estate Investing › Investor Note Forms › Real Estate Notes and Land Contracts › Offer ID 1241

Real Estate Notes and Land Contracts

The form below shows all Real Estate Notes and Land Contract investment opportunity. You as an investor can make offers to purchase these investments and add them to your portfolio. Remember you are making an offer to the holder of the investment. Once you decide to make an offer you will then scroll down the page until you find the name and phone number of the seller of the real estate note and/or realestate and present it to them. Simon Volkov Inc. has nothing to do with these properties or notes so we demand that you do your own due-diligence before you call or submit your offers directly to the note holder.


Face Value of Note 40,850
($ Amount at Creation)		 Real Estate Note Balance 49,431.99
Original Sale Date 07/28/2008    
Interest Rate 12 % Payment Amount 500
Payments Made Other Date 1st Payment Made 03/01/2009
# Payments Made 5 # Payments Remain 1
Next Due Date 05/01/2010 Last Payment Made 02/08/2010
Real Estate Note Status Delinquent    
Balloon Payment Yes Balloon Amount 49,431.99
Date Balloon Due 12/28/2008 Position of Real Estate Note 2nd
1st Remaining Balance 230,000 2nd Remaining Balance 4,9431.99
Payments Made on 2nd Other Date Payment Made on 2nd unknown
# Payments Made on 2nd 5 # Payments Remain on 2nd 1
Payer's Credit Score D/600 Value of Real Estate 526,000
Owner Occupied Yes Sales Date of Real Estate see note
Real Estate Sales Price NA Real Estate Down Payment NA
Loan to Value 53 % Loan divided by Property Value Asking Price for Real Estate Note none
Type of Note Other If Other, Specify mobile on land
I have a copy of the following and can make copies available by: Fax    
Type of Security Deed of Trust    
Copy of Estate Note Yes Closing Statement Yes
Proof of Hazard Insurance Yes Photo of Real Estate Yes
Payer's Credit Report No Recent Appraisal No
Street Address (register as an Investor) Real Estate / Property City Redmond
State Washington Zip Code NA
You are a/an Note Broker    
Your First Name Christina Your Last Name (register as an Investor)
Day Phone Number 360-748-6867 Evening Phone Number (register as an Investor)
Fax (register as an Investor) Your E-Mail Address (register as an Investor)
Referred By (register as an Investor) How Much Do You Need? seller did not state
How fast do you need it? not emergent Recourse No
Added information about your Real Estate Note. IE. Explain why you are selling this note. This note is deliquent. It was set as a 1-time payment of 40,850 due on December 22, 2008. This was a note taken out against the property to settle a debt. The payor has owned the property (5.06 acres) since 1981 at an initial purchase price of $48,000 and the 24x60 foot Bainbridge mobile in 1982 for $36,000. The payor lives on and runs a Christmas tree farm from his property and has history of 8-12 loans against the property for financing his business, most by financial institutions and each being paid off in 6-7 years from creation. Many of the debts were >$100,000. Payor has a signficant vested interest in his property and makes large purchases and sales ($50-100,000 at a time). Property value is based on tax assessed value as no appraisal has been done since original sale 30 years ago. Zillow indicates surrounding properties 400s to 700s and currently values this property at $386,000 although shows range over last 5 years of 300s to 600s. Current balance is reported via seller based on 1) accrued interest since note creation 2) 5 payments - 4 of $500 and 1 of $250 and 3) Further business transactions since note creation, based on a gentlemen's agreement. The payor and seller have done business together for 12+ years. Seller wants to buy daughter a mobile home - willing to take a discount to free up cash. Consider Selling Partial? Yes

 

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