How To Sell Your Owner Financed Mortgage Note Fast — What Actually Controls Your Closing Timeline

Full Video Transcript

Introduction

Hi, I’m Dawn, the Senior Note Analyst and Seller Financing Advisor with Moxxie Asset Group.

If you want to sell your seller financed mortgage note fast, I want to give you an honest answer, not a sales pitch.

Your File Controls the Timeline

Most notes can close in about 3 to 5 weeks, but here’s the thing — that timeline isn’t really up to the note buyer. It’s up to your file, which means how organized you are with your documents and paperwork, and if all of your documents and paperwork were prepared and recorded correctly when you closed with your borrower.

There are five things that put you on the fast track, and they are all things you have control of before you even pick up the phone to speak with us.

Five Things That Put You on the Fast Track

First, have your original promissory note ready, the actual wet ink signed document, not a copy. This one thing determines more about your timeline than anything else.

Second, pull your payment history or ledger, every payment received with dates and amounts. If you have been using a third-party note servicer, they make this step a lot easier for you.

Third, have your basic note details ready: the property address, how much is still owed, the interest rate, and the monthly payment amount. When you have these on hand from the very first call, we can start reviewing your file right away instead of spending time going back and forth just gathering the basics.

Fourth, gather your mortgage or deed of trust along with your original HUD or closing statement.

Fifth, respond to our document requests within a day or two. This is honestly the single biggest lever you control once your file is open with us. The longer you take to get us needed documents, the slower the progress goes.

What Slows a Note Sale Down

Let’s talk about what slows things down, because I’d rather tell you the truth than over-promise.

If your original promissory note is lost, a lost note affidavit has to be prepared and in some states recorded. That takes time and we can’t shortcut it. It can add days or weeks to the closing timeline.

If our title search finds liens, judgments, or unpaid HOA assessments, those have to be resolved before we can close, and that’s not us being difficult. It’s a legal reality that protects you as much as it protects the buyer.

And if your mortgage or deed of trust was never properly recorded at the county, which happens more than you think on older or informal owner finance deals, it may need to be re-recorded before your sale can close. Again, this will hold things up and push back that closing timeline.

An Honest Promise on Timing

Anyone promising to close every note within 30 days, no matter what, is either over-promising or cutting corners.

We move as fast as your file allows, and we are upfront with you about exactly what’s creating any delay along the way and how we’re working to remedy it.

Get a Free Note Review

If you want to know exactly where your file stands and what would put you on the fast track, we offer a free, no-obligation note review on our website, or feel free to reach out anytime to talk to us about the details of your particular note.

Call us at 954-466-7111. Thank you.