Closing & Note Packages
Preparing a note package that gets funded and closing the deal cleanly.
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01
Advice on Attorneys
Why your note deals need an attorney who buys notes with their own money, and how to find one.
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02
Closing the Deal: Food for Thought
Practical checks and habits that keep a note purchase on track from first offer to funded closing.
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03
Don’t Contact the Payor or the Deal Is Off!
Why a seller who forbids you to call the payor is hiding a problem, and why you should walk away.
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04
Endorsement vs. Assignment
Why you want a note endorsed to you rather than assigned, and when endorsement wording still falls short.
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05
Preparing Note Packages That Get Funded (Part 1 of 6)
Why you hold off on price until you’ve read the note, security instrument and settlement statement, and how to listen first.
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06
Preparing Note Packages That Get Funded (Part 2 of 6)
How to collect the seller’s file, read the payor’s credit report and use an appraisal to judge a note’s collateral.
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07
Preparing Note Packages That Get Funded (Part 3 of 6)
How to check senior debt, confirm the first lien is current and lock in the payor’s balance with an estoppel affidavit.
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08
Preparing Note Packages That Get Funded (Part 4 of 6)
How to instruct the settlement agent on a simultaneous resale, confirm the seller’s authority to sell, and plan your week.
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09
Preparing Note Packages That Get Funded (Part 5 of 6)
How a simultaneous note resale settlement runs step by step, and what changes when you keep the note yourself.
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10
Preparing Note Packages That Get Funded (Part 6 of 6)
What to have in hand before you leave the settlement table, and the three notices to send right after you buy a note.
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11
Save Money and Close More Deals with an Escrow Deposit
How a refundable good-faith deposit from the note seller stops you paying for deals that never close.
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12
Title Insurance: Who Needs It?
Why an uninsured deed is a cloud on the title, with real cases, and why you should insist on title insurance in every deal.
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13
Wall Street Brokers: Institutional Investors Who Won’t Buy Partials
A father-daughter note-buying firm on what they buy, why they avoid partials and table funding, and what they expect from brokers.
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14
What to Do When a Note Seller Backs Out
Your options when a note seller walks away from a signed deal, from court to recording, and why moving on usually wins.
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15
What’s a Holdback?
What a closing holdback is, who should fund it, the 90-day first-payment rule, and how to raise it with the note seller.
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16
Why Get an Estoppel Letter?
Why note buyers have the payor confirm the note's figures before closing, plus a sample estoppel letter to adapt.
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