Posted by Dr. Ralph Werner on June 29, 2001 at 17:05:19:
Yes, a reputable note buyer can make the deal happen and with less qualifying criteria then a “regular” mortgage company. My company does it all the time here in Michigan. The key is to interview your note purchaser and see if they are for real and your own instincts should tell you if they are! I usually cash out my investor owned home clients at 91 to 100% of their appraised price. Another thing that you can also do is contact the BBB in your state and see if the note buyer has been listed as reputable or not. And lastly if you do use a note purchaser, you can also list your properties as “owner will finance” which as you know brings a flood of calls!