America's Top Note Buyer

Tips on Creating A Real Estate Note

Best tips
for creating your Real Estate Note

What is a Promissory Note

Definition of a promissory note and ideas for finding a buyer.

The Steps in the Note Process

The Ultimate Guide

Video on the Note Process

Learn more about valuing my note.

What Is a Real Estate Note?

A Real Estate Note is a written promise to pay a specified amount to a party over a period of time in exchange for the rights to a particular property.

What is a Note Buyer?

A note buyer is, quite simply, an entity that buys one of a variety of notes. A nationwide mortgage note buyer tends to buy mortgage notes in all 50 states where the security (collateral) for the note is some type of real estate like a house or a commercial building. This type of buyer might also be referred to as a real estate note buyer, a deed of trust buyer, or a note investor. A business note buyer deals with notes where the main collateral is a business, and there is little or no real estate involved.

In addition to houses and commercial buildings, a private mortgage note buyer might also buy notes secured by mobile homes, land, or other property types. Seascape buys only 1st-lien notes (wraparound mortgages are fine) that are current on their payments. The private note buyer is looking to purchase a mortgage note where the property is in good shape and the owner of the property is likely to continue to make on-time payments.

What Our Clients Say?

      EXCELLENT  
   Based on 21 reviews 
    
 
 
 
   
 
 
       Posted on Google  
   
   Laura Coyle 
 
 
 
 Trustindex verifies that the original source of the review is Google. So stress-free and fast, plus I was able to sign the closing papers at my own home. Service was excellent and the price was the best of the five quotes I received. I highly recommend working with Alan Noblitt.
  
 
      Posted on Google  
   
   chase chapman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Professional,Pleasant and Prompt.
Thank you, Alan.
  
 
      Posted on Google  
   
   Elizabeth Avila 
 
 
 
 Trustindex verifies that the original source of the review is Google. Alan was a wonderful person to work with, both my husband and  I enjoyed working with him through Seascape Capital. Other companies had contacted us to sell our note to them but Alan gave us the best price and was very professional guiding us through the process. He was responsive to our questions. Kudos to Alan and we highly recommend him to any one selling their note.
  
 
      Posted on Google  
   
   Tom Guichard 
 
 
 
 Trustindex verifies that the original source of the review is Google. I recently sold my note to Seascape Capital and it was the best experience that I’ve ever had with a real estate transaction.  Alan is a true professional and guided me through the whole process.  He was very responsive and addressed any issues I had and solved them in a timely manner.  The main thing I enjoyed most about working with Alan is I did not feel that I was in a high pressure situation which may be the case with many other companies. If you plan on selling your note, you don’t need to look any further.  Seascape Capital and Alan are the best in the business.
  
 
      Posted on Google  
   
   John Currier 
 
 
 
 Trustindex verifies that the original source of the review is Google. Seascape was great to work with.  Alan walked me through the whole process and everything went smoothly.
  
 
      Posted on Google  
   
   Tyler Summers 
 
 
 
 Trustindex verifies that the original source of the review is Google. When I was searching google to sell my note I tried a few of the top results. Alan with Seascape Capital was the most responsive, and offered a very good price for my private mortgage note. He was consistent and clear in his communication and let me know how long the process would take from start to finish. Overall a very pleasant experience and I would not hesitate to recommend Seascape Capital for any of your note buying or selling needs.
  
 
      Posted on Google  
   
   Staci Holtzman 
 
 
 
 Trustindex verifies that the original source of the review is Google. Seascape Capital was very nice to work with.   Clear and concise communication and very accessible when I had questions.  Overall, it was a quick and easy transaction.
  
 
      Posted on Google  
   
   Daniel McDuffie 
 
 
 
 Trustindex verifies that the original source of the review is Google. Alan and Seascape Capital were great to work with. Alan is very professional and follows up regularly throughout the process. The process was clean an easy and the communication was clear and informative. I look forward to working with them again in the future. I would recommend and trust this company.
  
 
      Posted on Google  
   
   Bernard Daven 
 
 
 
 Trustindex verifies that the original source of the review is Google. Alan was on point at all aspects of the transaction especially with his communication. The process was seamless and I was aware of each step prior to it being implemented. The money came in as promised and Alan periodically checked on me to make sure the $ was sent. Great experience, I highly recommend!
  
 
      Posted on Google  
   
   Penny McKinney 
 
 
 
 Trustindex verifies that the original source of the review is Google. Alan was a god send in helping me navigate the process for selling my owner financed house note. I had checked with several other companies and he was by far the most outstanding in customer reviews. I decided to contact him to facilitate the transaction and he did not hesitate or delay the process. I even threw a few obstacles at him he continued to follow up with me as I requested. When I finally decided to pull the trigger it was a matter of days for the funding to occur. I’m out from under the note and am able to move forward with my own plan for retirement. Many thanks ALAN!!!!!!!
Dan McKinney
  
 
  
  
 
 
     Verified by Trustindex  Trustindex verified badge is the Universal Symbol of Trust. Only the greatest companies can get the verified badge who has a review score above 4.5, based on customer reviews over the past 12 months. Read more

Why work with A Note Buyer

Many people who market properties or businesses with owner financing have no idea that they can get money for their notes. It is fair to say that most note holders would have preferred to have gotten their cash upfront rather than carrying a note. For others, holding a note may have made sense at the beginning, but now their situation has changed. The note holder may have aged to a point that they no longer want to receive payments, perhaps they have other investment opportunities, or they may not want to mess with late payments, property taxes, and insurance anymore. A nationwide note buyer can alleviate the stress of carrying a note, and put a large sum of money in your pocket quickly.

An excellent mortgage note buyer will explain how a note is priced and what to expect after you have agreed to a price, and will continually keep you updated during the process. In terms of price, the private mortgage note buyer will also explain different pricing options, such as keeping some of the note payments versus having the note buyer purchase all of the payments.

What makes a Good Note Buyer?

If you don’t like the product or service of a restaurant, a dry cleaner, or a landscaping company, it is easy to find a similar company that you like better for the next time. Few people ever own more than one real estate note in their lifetime, so it is important to do everything right the first time when setting up and deciding whether to keep a note. This includes choosing the best mortgage note buyer.

Whether you have a mortgage note or have a business note, here are some things to look for in a private note buyer:

Be sure to check on whether they have worked full-time in the note business for at least five years. If not, they probably don’t have the experience and competence to painlessly get you through the note selling process.
Ensure that the company has positive reviews with the Better Business Bureau, as well as on the search engines and any relevant websites.
For mortgage notes only, look at whether the company or person is licensed as a real estate broker in at least one state, as they are more likely to have the knowledge and dedication needed. Some states like California require licensing for private mortgage note brokers.
When you talk with the person on the phone, listen to your intuition as to whether the other person seems to know what they are talking about, can ably and honestly answer your questions, and seems focused on excellent customer service

Fortunately, Seascape Capital checks all of those boxes, as it has been in business for over twenty years and consistently gets the best reviews with the Better Business Bureau and with the top search engine.

How a Note Buyer Values A Note

A nationwide mortgage note buyer will give its highest prices when the property is an owner-occupied house or building, the payer has great credit, the property has at least 20% equity, all payments have been received on time, the interest rate is above market, and the term of the note is less than twenty years. A business note buyer will also care about the profitability of a business, how long it has been around, and the least terms.

Placing a value on any type of note has levels of both objectivity and subjectivity, and various note investors will offer different prices on the same note. The most critical components for most mortgage note buyers are:

Type and condition of collateral (property or business)
Amount of equity, which consists of the down payment, monthly payments that have been made, and any increase in market value
Payer credit, as a higher credit score and a personal guarantee will usually mean a higher offer price for the note
Terms of the note, such as the interest rate and the length of the note term, play into the calculation of a price

Should I Keep My Mortgage Note?

As a person who owns a mortgage note, you are already familiar with the benefits of having a note. There are advantages to receiving regular (and hopefully) on-time payments coming in on at regular intervals and at a good interest rate. If you have the time to manage the mortgage note and have plenty of cash in reserves, you may like having that note. However, there are also numerous risks associated with carrying a note. What happens if the buyer loses their job or goes through a divorce and stops making payments?

Is the buyer staying current on property taxes and insurance, as well as maintaining the property? Will the buyer still be able to make the payments in 5-10 years? If the buyer defaults, are you prepared to spend thousands of dollars and wait many months going through the foreclosure process? If you are considering parting with your note, call a nationwide direct mortgage note buyer like Seascape Capital to understand the best options. You may decide that you want the note buyer to buy the full note or only part of it, but get informed first so that you can make the best decision for yourself.

What Is A Business Note?

A business note shares some commonalities with a mortgage note but also differs in important ways. A business note is considered to be riskier than a mortgage note in most cases. With a mortgage note, the note holder has the option to foreclose on a property and take it back if there is a default. A default is more complicated with a business note. While a note holder can take back a business from the payer, the customer records and goodwill may be gone, the equipment may not be usable, or the note holder may have since moved on with life and no longer has the time or inclination to run the company.

Because of the higher risk, business note buyers will require a higher rate of return on a business note. This means that the discount will be bigger, so the note holder will receive less money than with an equivalent mortgage note.

Note Buyer Services

What is a Mortgage Note

Get fast cash by working with a trusted note buyer for your mortgage note.

Residential Note
Buyer

Get cash for your promissory
notes from a trusted note buyer.

Commercial
Note Buyer

Unlock the potential of
your commercial notes.

Mobile Home Note buyer

Get cashed out of your note as long as the property includes the mobile home and the land.

Vacant Land Note Buyer

Land notes can be sold regardless of improvements and size.

About Us

Alan Noblitt is the President of Seascape Capital, LLC, and works as both a real estate note buyer and a business note broker. Alan has an MBA from Arizona State University, a B.S. from the University of Wyoming, and is licensed as a California Real Estate Note Buyer.

Previously, he worked for Hewlett Packard for 18 years in finance and marketing positions, with five of those years spent in France. He launched Seascape Capital in 2002, and incorporated the business in 2003.