Frequently Asked Questions
What kinds of notes do you buy? Click here for a list of what kinds of notes we buy.
Who do I contact at your company? Call Lorelei Stevens at (206) 448-1160.
How do I know if you would like to buy the note? If you would buy it with your own money, we probably would too.
What should I do if I have a note for sale? E-mail your information, along with a copy of the note or contract, to firstname.lastname@example.org and we will quote within 24 hours. Or you can fax us the information at (206) 448-8476. For a worksheet, click here.
Do you buy nationwide? Yes, except California, New York, Florida, and Nevada.
Do you buy partials? No. We discontinued Partials in 1990. For more information about partials, click here.
How long does it take to close? After we receive all the required information and documentation, about two weeks.
Do you work with note brokers? Yes, we are willing to work with note brokers. However, the reality is that over the last several years, while many note brokers have contacted us, very few note brokers have ever brought us any notes that we ended up purchasing.
Who pays the closing costs? The note broker, the seller, or us, depending on what we bargain for.
How is the note broker's fee protected? We write a letter to the note broker, indicating the fees to be paid from the closing.
Who does the closing? We do. All funds are deposited into a trust account.
What yields do you require? The competition of the marketplace dictates this.
Do you buy loans? No. We buy notes which were created as a result of a sale of an asset, a divorce, or a service rendered.
What is your maximum balance limit for size of notes? $500,000.00 for real estate notes. $150,000.00 for business notes.
Do you do simultaneous closings? No. We are concerned these types of transactions may be construed as loans to the payor instead of the sale of a note. For more information about simultaneous closings, click here.
Why are you called "Wall Street Brokers"? When we started our business, we were located at 500 Wall Street in downtown Seattle. In 2010, we moved to West Seattle. Because we were located on Wall Street for almost 40 years, we kept the name.