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8 result(s) displayed (1 - 8):

October 27, 2012

Real Estate IOU

A lot of sellers are using an owner financed real estate IOU to attract buyers willing to pay their asking price. Although the real estate market has experienced a slight upturn, finding qualified buyers remains a challenge.

When property owners secure loans with seller financed real estate IOU they act as the lender. A mortgage or trust deed is drawn up and filed with the County Recorder's office. If buyers default on the terms of the note the seller can initiate foreclosure and repossess the property.

Just as banks are allowed to sell mortgage notes to another bank, property owners can sell seller carry back trust deeds to private investors or investment groups. This is common practice amongst investors and is a good approach for those in need of quick cash.

Real Estate Investing article on "Real Estate IOU "

December 23, 2011

Sellercarryback

Sellercarryback is a mortgage financing option that is offered by sellers to buyers and real estate investors. While this strategy has been used for years, it has become considerably more popular since the mortgage crisis began in 2008.

Sellercarryback mortgages can be an ideal solution for buyers with less than perfect credit and those who can't afford a large down payment. It can also be beneficial to sellers. By carrying all or part of the mortgage note sellers can obtain a better price for the house.

With that said, it is imperative for both parties to engage in due diligence. A purchase agreement needs to be executed and legally recorded. It is strongly recommended to hire a real estate attorney to ensure everyone is protected and the contract is legally binding.

Real Estate Investing article on "Sellercarryback"

January 14, 2011

IOU Note

An IOU note is commonly used to record the promise to pay a debt. This document can be used amongst family and friends and when borrowing money from a bank or credit union. When banks issue IOU notes, the document is referred to as a promissory note.

The IOU note records pertinent information about the loan. It should include the names and contract information for the borrower and lender, total amount of funds borrowed, installment amounts and dates, interest rate, and maturity date. Financial institutions usually include a default clause which states what action will be taken if borrowers default on the loan agreement

Real Estate Investing article on "IOU Note "

December 16, 2010

Preforeclosure

Preforeclosure is the last opportunity borrowers have to cure mortgage arrears or work out a payment plan with their lender to avoid foreclosure. This phase takes place once lenders send out a Notice of Default, which normally occurs when borrowers are 60 days delinquent with loan payments.

Once mortgagors enter into preforeclosure they may limit eligibility for foreclosure prevention strategies. Therefore, it is important to attempt to work out a payment plan the moment borrowers realize they will not be able to fulfill their loan obligation.

Real Estate Investing article on "Preforeclosure"

April 05, 2010

Sell Real Estate Note

Many people are electing to sell real estate note in order to break even on their investment. Others need to sell realty notes in order to obtain a lump sum of cash to pay off credit cards and outstanding debts or to fund the purchase of another investment property. Regardless of the reason, note holders need to follow legal protocol to protect their interest.

When note holders sell real estate note, both the buyer and seller are legally obligated to fulfill their end of the bargain. Before property transfer can occur both parties must submit required documents to the court to record the transfer. It is best to work with a real estate attorney to ensure all aspects of the realty contract adhere to federal, state and local laws.

Real Estate Investing article on "Sell Real Estate Note"

October 21, 2009

Seller Carry Back Trust Deeds

Seller carry back trust deeds are used when property owners provide financing to sellers. Also known as seller carry back financing, trust deeds secure the property until private financing has been repaid. Sellers can elect to carry all or a portion of real estate financing. This technique is often used when buyers are unable to obtain financing through a traditional lending source.

Three parties are involved when seller carry back trust deeds are used. These include the Trustor, Beneficiary and Trustee. The property owner or seller is referred to as the Trustor. The individual or entity that receives income from the mortgage note is referred to as the Beneficiary. Beneficiaries can be a private party or a lending institution such as a bank or credit union. The person who holds legal title to the real estate is referred to as the Trustee. Depending on the circumstances, the Trustor can also be the Trustee and Beneficiary.

Real Estate Investing article on "Seller Carry Back Trust Deeds"

July 10, 2009

Owner Will Carry

Owner will carry is a becoming a popular way to finance the purchase of real estate. With the current credit crunch, many sellers are now offering to finance all or a portion of the purchase price in order to attract buyers. Also referred to as seller carry back, this type of financing is beneficial to both buyers and sellers.

Sellers who offer owner will carry financing open the doors to more buyers. Since many people are unable to qualify for a traditional mortgage loan, seller carry back provides buyers with the opportunity to purchase property without obtaining funding through a bank.

Real Estate Investing article on "Owner Will Carry"

March 21, 2008

"Promissory Note" How to use them in a realestate transaction.

A promissory note is a legally binding contract used to document details of a loan between two parties. Promissory notes can be used for many types of financial transactions including personal loans, business loans, and real estate transactions.

Before participating in a promissory note agreement it's important to understand the different types of notes, repayment schedules and legal terms. Let's begin with the different types of notes payable.

Real Estate Investing article on ""Promissory Note" How to use them in a realestate transaction."