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Nearly 1.9 million Nebraskans live in this great state, which is the 16th largest state by area.  Across its 77,358 square miles, many houses, buildings, mobile homes, and vacant land parcels have been sold using owner financing.  If you were involved in one of those sales, you may already know that a Nebraska note buyer can buy some or all of the payments on a note.


What is a Note?

Let’s say that Susie Sellers wants to sell her Lincoln house to Bob Buyers.  Instead of going through the hassle and expense of Bob getting a bank loan, they agree to use owner financing.   Susie and Bob would need to agree on a sales price, the down payment, and terms like the interest rate and length in years.  An attorney or title company would draft the relevant documents to ensure that everything is legal and complete.  Among other documents to be completed would be the promissory note, deed of trust, and closing statement.  Both parties would sign the documents.


Normally, Bob would make his first payment a month or so later, and then every month thereafter.  As long as Bob makes complete and on-time payments during the full term of the note, he should have unencumbered ownership by the end.


Finding a Nebraska Note Buyer

After Susie has received a few payments, she may decide that she needs more cash now to pay off credit card and medical bills, put her child through college, or to make other investments.  To find out various options, she decides to seek out a good Nebraska note buyer.  Knowing that note buyers come with varying levels of competence and integrity, she checks them out by doing online searches, being sure that they have an A+ rating from the Better Business Bureau, checking that they licensed in their home states, and interviewing thoroughly each note buyer being considered.  After all, a note can be worth a lot of money, so she needs to be careful.


An excellent note buyer will explain the process and various options for selling the note.  For instance, if the note balance is $80,000 but Susie only needs $20,000, she can choose to only sell some instead of all of the payments.


Selling a Note

Once Susie and the note buyer have agreed on a fair price for the note, the following steps would take place.


  1. The note buying company would send Susie an agreement stating what has been discussed, and a list of documents that are needed.  For example, Susie would need to send copies of the note and deed of trust, as well as proof of payments received.
  2. Once Susie has submitted the requested items, the buyer would check Bob’s credit and review the documents.
  3. The Nebraska note buyer would then order a drive-by appraisal of the house to determine its value.  This generally takes 7-10 days and is paid for by the buyer.
  4. Next, the buyer would contact a title company to have them check for any liens against the property.  This can take 1-2 weeks and is also paid for by the buyer.
  5. When all of the above is complete, the note buyer would send assignment documents to Susie, which she would sign and return along with her original note and deed of trust.
  6. The note investor would record the assignment with the county, and wire the funds to Susie within a few days.  Bob would be alerted to begin sending his payments to the note company.


Seascape Capital has an A+ rating from the Better Business Bureau and is fully licensed.  Seascape has been in the note business since 2002.


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