Buying & Selling Las Vegas Real Estate Notes
A real estate note is a promise to pay back a loan. Real estate notes are the loan documents that are created when you finance the sale of your house or other type of property. It could be in the form of a mortgage note, land contract, trust deed or a contract for deed. What it boils down to is that someone is making payments on that loan to another party.
Often an individual or business gets a loan from a bank to pay for a piece of real estate. The bank or mortgage lender can, at any time, sell this note to another lender. Handling this sales transaction is a real estate broker.
There are many reasons that real estate notes are bought and sold. The owner of the note may decide that instead of getting a set amount of money each month they would really rather have one lump sum. The note holder may need the money for a new investment venture, a family situation or just be tired of waiting for monthly payments.
If you have a note to sell, the value is determined according to several factors: Down payment, interest rate, payment amount, the term of the note, the buyers credit rating and payment history. In addition, the type of the property and the condition of the property will factor into determining the value of the note.
There are thousands of individuals who invest in notes. But the main buyers and sellers of notes are banks and pension funds. Real estate has always been a good investment and will no doubt continue to be. For individuals with money to invest, but do not want the hassles of actually owning a piece of property, real estate notes may just be the answer. With privately held real estate notes you can earn anywhere from 7% to 15% interest on your money.
The author, Roy White and his wife, Shirley are Realtors in Las Vegas, Nevada and have been selling Las Vegas real estate for over 28 years. Questions or comments, please email century21white@aol.com or call 1-866-374-3444.
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The Roy and Shirley White Team
CENTURY 21 Aadvantage Gold
5041 N Rainbow Blvd
Las Vegas, NV 89130
Direct Line 702-610-4270
Toll Free 1-866-374-3444
Fax Line 702-309-4483
Each office is independently owned and operated
