How to Sell Your Note
We buy notes on real estate, small businesses or divorce property settlements. Selling your note begins with your request for a price quote from Wall Street Brokers, Inc.
You can contact us by telephone, fax, e-mail or postal service. Telephone is usually the fastest and easiest. You can call us toll-free at 1-800-423-2114.
When you call for a price quote, you should have some information ready:
What kind of property is it (house, vacant land, business, etc.)?
In what city and state is the property located?
How much did you sell the property for?
When did you sell the property?
How much was the down payment?
Is your note a first lien or a second lien?
If your note is a second lien, approximately how much is owed to the first lien holder?
How much does your payor owe you now?
Are payments current?
What is the monthly payment?
What is the interest rate?
Is there a large payment at some future date (a "balloon" payment)? If so, when is it due?
Honestly, because of the economy, what is the value of the property now?
If your note has a special situation, what is it?
CONTACT US NOW AT 1-800-423-2114 WITH THIS INFORMATION AND ASK FOR AN INSTANT PRICE QUOTE. YOU WILL GET THE QUOTE RIGHT AWAY.
Careful attention to detail is necessary to sell your note with the least risk. Here are the three most important precautions for you to take:
1. In most cases, we will not ask you to guarantee the note. If you do not guarantee the note, you are selling it "without recourse," which means you are NOT personally liable for paying the note if the payor quits paying. Make sure you do not accidentally sell "with recourse." For vital information about recourse, click here.
2. Find the ORIGINAL note. You can only sell the ORIGINAL note and not a signed copy. We would not buy a signed copy of your note any more than you would accept a signed copy of our check. Make sure that what you have is the ORIGINAL, not just a copy. If you cannot find the original note, click here.
3. Whenever possible, sell the whole note, not part of it. You should get all your money now and get completely out of the picture. This simple step can keep you from many legal pitfalls. For more on the problems of selling parts of your note, click here.
If you decide to accept our quote, the next step is to furnish us with more detailed information. For further instructions, click here.