What Documents Do You Need To Sell A Seller Financed Mortgage Note?

Full Video Transcript

Introduction

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

One question I get all the time is, what documents do I actually need to sell my note? The good news is, it’s simpler than most people expect. Let me walk you through it.

No Documents Needed for a Free Note Review

You do not need any documents to get a free note review on our website. But you will need documents once you accept our offer to buy your note and we proceed into due diligence, where the documents you provide will verify the information you gave us during the free note review.

Promissory Note and Mortgage or Deed of Trust

The two most important documents are your promissory note and your mortgage or deed of trust, whichever applies in your state. These are the legal documents that prove that the note exists and that it’s secured by the property.

Payment History

Next, you’ll want your payment history — basically, a record showing what’s been paid and when. If you’ve been using a third-party loan servicing company, they can usually provide this for you.

If you’ve been tracking it yourself, a simple spreadsheet will work, along with bank statements to verify your spreadsheet. Having a third-party servicing company always makes this step a lot easier for you, so we do recommend using one if you’re not already.

Closing Documents, Insurance, and Wrap Notes

You’ll also want your original closing documents, such as the HUD, closing, or settlement statement from when the property was sold. These help confirm the original terms of the sale.

You’ll also need a copy of the declaration page of the current homeowner’s insurance policy on the property.

If this is a wrap mortgage note, then we will need a payoff statement for your underlying lien.

Don’t Have Everything? Don’t Worry

Now, if you don’t have all of this in front of you, do not worry. As I said earlier, you don’t need everything gathered before you even reach out to us.

Start with a simple conversation, share what you do have, and our team will help you figure out what’s still needed and how you can actually get it.

Organized Paperwork Speeds Up Funding

Having your documents organized ahead of time is honestly the single biggest thing that speeds up your closing and funding into your bank account.

The more complete your paperwork, and the quicker you are able to get us the paperwork after you accept our offer, the faster we can move from review to offer to funding.

Get a Free Note Review

If you’re not sure what you have or what’s missing, that’s exactly what our free, no-obligation review is for. We will walk you through it step by step, and it costs you nothing to ask.

Reach out anytime by calling us at 954-466-7111, or you can fill out our free note review form on our website.

I hope this video helped answer the question of what documents you need to sell your owner-financed mortgage note. Thank you.