Flag of Ohio.svg


The Buckeye state has the only American state flag that is not a rectangle.  Although Oho is the seventh most populous state, it is only 34th in terms of area.  In that area, bookmarked at either end by Cleveland and Cincinnati, lay a fair number of properties that have been sold at least once using owner financing.


When an Ohio property is sold with owner financing, a mortgage note is created.  The person who sold the property is called the note holder or the seller.  After the transaction has been completed and the payments start coming in , the note holder has the option of keeping the note or selling it to an Ohio mortgage note buyer.  Although the advantages of keeping the note are clear, many note holders are less aware of the risks of carrying a note.  These risks include:


  • Default by the property buyer and even the possibility of having to initiate a foreclosure, which can be quite expensive and time consuming.
  • The buyer not keeping up with insurance or property tax payments, thus jeopardizing the seller’s collateral.
  • The property buyer not keeping the house maintained, which will affect market value.
  • Dealing with late payments and collecting any owed fees.


If you do decide to keep the mortgage note, try to get the help of a real estate expert.


Finding an Ohio Mortgage Note Buyer

If you choose to sell your note and find the best possible Ohio note buyer, look for these:


  • Does the company and your contact person seem knowledgeable, and has the company been buying notes for at least five years?
  • Is the company A+ rated by the Better Business Bureau?
  • Does the company have a real estate license in their home state?
  • Does your gut tell you that the note buying company is trustworthy, service oriented, and likely to give you a fair price for the note?


Selling Your Ohio Note

Once you have chosen the best note buyer and agreed upon a price, the process should closely match the steps below:


  1. The note buying company will check the credit of the property buyer.
  2. They will give you their offer in writing, and request from you copies of documents like the promissory note, mortgage, and proof of past payments.
  3. They will order a drive-by appraisal and title commitment, usually at their own expense.  This is the longest phase and can take 2+ weeks.
  4. You will receive from the note investor documents to assign your note, which you will sign and send back along with your original note and mortgage.
  5. Once the documents are received by them, the note investor will wire to you the funds within a few business days.


Seascape Capital has been in business since 2002 and has an A+ rating from the Better Business Bureau.  The company has been involved in the purchase of a number of Ohio mortgage notes.


A hassle-free request to
Get an offer for your note

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