How Do You Sell A Promissory Note?
A promissory note is an agreement to make regular payments to an entity for a specified period of time. Usually there is an interest rate factored into the note payments, and in most cases a promissory note is secured by real estate or some other hard asset. In other words, if the person being paid under the terms of the promissory note fails to receive the stipulated payment within a stipulated time period, then the real estate or other hard asset becomes the property of that person. People receiving monthly payments on a promissory note often wish to sell their note for a lump-sum cash payment rather than continue to receive small monthly payments. If you are in that positio,n there are a few things you need to know. Locate one or more promissory note buyers. Note buyers can be found online or through your local yellow pages. Your banker or most real estate agents will also know several note buyers. It is a good idea to contact more than one note buyer, as the price a note buyer will
