Selling a land note is straightforward with the right buyer. This guide walks you through every step, typically completing in 2-3 weeks.
The 5 Stages
- Preparation — Gather documents
- Getting Quotes — Contact direct buyers
- Acceptance — Agree to terms
- Due Diligence — Buyer verifies, including title search
- Closing — Sign assignment, receive funds
Stage 1: Preparation
Gather: promissory note, deed of trust, payment history. Know your balance, rate, and payment amount. See preparing your note for sale.
Stage 2: Getting Quotes
Contact land note buyers. Ask if they buy with own funds. Get 2-3 quotes. Understand how notes are valued.
Stage 3: Acceptance
Review purchase agreement. Submit documents. No lawyer required but welcome.
Stage 4: Due Diligence
5-10 business days. We verify documents, payment history, and title. See closing process details.
Stage 5: Closing
Sign assignment, funds wired within 24-48 hours. Borrower notified to send payments to new owner.
Ready to start? Call Sandy at (512) 861-0000 or request your quote.
Timeline
Standard: 2-3 weeks. Expedited: 7-14 days possible.
FAQ
Do I need borrower permission? No. Notes are assignable.
What about taxes? See tax implications.
Can I sell part? Yes. See partial sales.