From Cape Cod to Boston and on out west to Pittsfield, the state of Massachusetts has a wonderful mix of geography and cultures.  If you are interested in more details about Massachusetts real estate trends, visit here.


Residents have a variety of ways to buy or sell houses, and owner financing is a method many have discovered as an excellent alternative.  Some people who have used owner financing to sell their properties later decided to sell their notes to a Massachusetts mortgage buyer.


If you are considering selling a property and carrying back a mortgage note, there are a few key steps that you will want to take to get started:


  1. Spend some time researching your neighborhood market in order to figure out a realistic value and selling price for your home.
  2. Make a decision on whether to use a realtor or to sell the property on your own.
  3. Think about the amount of down payment that you’ll require, the characteristics of the ideal buyer, and the note terms that you will establish. To make your note more secure and marketable, try to collect at least a 10% down payment and sell only to a person with a decent credit score.
  4. Once you and a buyer have agreed upon a price and the terms, use a professional like an attorney or title company to prepare the documents.
  5. Wait until you have received 2-3 payments, then choose a Massachusetts mortgage buyer that you feel is trustworthy and professional. To help ascertain that, check to see whether the note buyer is licensed in their home state and whether they have an A+ rating from the Better Business Bureau.


The Process for Selling Your Note

At this point, you have sold the property to a worthy buyer and collected at least a couple of monthly payments.  If you want to avoid the risk and hassle of holding on to your mortgage note, you can sell the note.  The steps for that are:


  1. Communicate information about the property and the note to your new favorite note buyer, and wait a day or so to hear back on some offers.
  2. Once a price has been agreed upon, you should send in copies (not originals) of many of your documents.
  3. The mortgage buyer will review the documents, order a drive-by appraisal, and request a title commitment. Usually, the note buying company will manage and pay for all of it themselves.  This due diligence phase takes 2-4 weeks.
  4. Once the above is completed, you will receive assignment documents, sign and return them, and expect to receive your wired funds within 1-2 days.


Seascape Capital is a nationwide mortgage buyer and buys notes in all 50 states.

Call Seascape Capital today for more information on how to sell your mortgage note at 1-800-634-4697 or fill out our mortgage note application to sell your note.


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To ask questions or for a pressure-free discussionCall 1-800-634-4697