NATIONAL NOTE BUYERS exists to help and inform all who need to know about mortgage notes and trust deeds, both residential and commercial.  We help individuals or companies create, sell, understand notes.  We are investors and do not lend money but purchase cash flows. We are determined not only to make great deals on  mortgages and trust deed notes which you are selling or buying, but strive to be a good neighbor. We shape our business decisions to improve the quality of life in the communities where we do business.

SIMULTANEOUS CLOSINGS

Residential Simultaneous Closing

The phrase "Simultaneous Closing" is used to describe transactions that occur when the seller is carrying back a note, as payment for their property, with the specific intention of selling the note for cash.  In other words, "Simultaneous Closing" just means, during an escrow closing, that there are two (2) separate closing transactions happening within minutes of each other.

The documents are signed and:

1. The Buyer gets Title of the Property and the Seller receives the mortgage payments

2. National Notebuyers buys the mortgage payments from the seller for Cash-Assignment

The advantage is the seller gets cash up front for payments that may never materialize.  The buyer then pays us the mortgage payments.   The seller is then out of the transaction altogether.

 

Business note Simultaneous Closing

Definition

Basically, a Simultaneous Closing is very similar to liquidating any other note, except the note has no seasoning (it is brand new). Assuming that we are provided with all of the terms of the proposed note and an accurate bill of sale, we will issue a Letter of Intent that states that we will purchase the note for some given amount after the business closing, provided no changes have been made. This assures the seller that the note can be sold and for how much, even before the business closing. We can provide a check to the seller very soon after the business closing, often right at the business closing table.

Reasons for Simultaneous Closings

1. The buyer does not qualify for a conventional loan
2. It is difficult to obtain conventional financing on a business
3. The business has been difficult to sell
4. Owner-Financing provides more potential buyers
5. The Seller needs cash, but his Buyer cannot provide it

 

Do you have questions?

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