Flag of Wisconsin


The Badger state is our 23rd largest state in area and covers about 65,500 square miles.  From Racine, to Superior, a large variety of lands cover this fine state.  Many of these residential and commercial properties were sold using owner financing, and the seller of the property is collecting payments each month.


So, what is owner financing and how do Wisconsin note buyers fit in to the picture?  Owner financing is the sale of a property by one individual to another without the involvement of any banks.   The two parties agree on the purchase price, down payment, interest rate, etc., and an attorney or title company generally prepares the appropriate documents.  The key elements of the sale are covered in a document called a mortgage note, which the buyer signs and the seller keeps.  Once the transaction is completed, the buyer of the property takes possession and begins making payments to the seller.


Once the payments start coming in, the note holder has the choice of keeping the note or selling it to experienced Wisconsin note buyers like Seascape Capital.  There are risks to holding on to the note for the seller, which include:


  • Late payments or non-payments by the buyer, which could force the note holder to pursue a foreclosure.
  • Lack of upkeep and basic maintenance, which affects the value of the collateral property.
  • Non-payment of insurance property taxes, which exposes the note holder to loss of collateral and the seniority of the lien.


Selling To a Note Buyer

If the note holder decides to sell the note and begins calling various Wisconsin note buyers, he or she should look for certain criteria before selecting a note buyer.  These include making sure that the note buyer is:


  • Experienced and competent, which is partly reflected by whether they have in business full-time for at least five years
  • Highly rated by the Better Business Bureau
  • Fully licensed as a real estate broker in their home state
  • Trustworthy and customer-service oriented, which you would evaluate yourself and by looking online for any negative reviews.


Once you have chosen a mortgage note buyer and they have given you a fair price, the process begins.  The normal steps are as follows:


  1. You will be asked to sign an agreement showing the price and to send copies of relevant documents like the mortgage, note, proof of payments, etc.
  2. The Wisconsin note buyer begins the due diligence process by reviewing the documents and ordering a drive-by appraisal of the property, which generally takes a week or a bit more.
  3. Next, they would order a title commitment to make sure that property taxes are current and that there are no other liens against the property.  This can take 1-2 weeks, depending on the responsiveness of the title company.
  4. The note buyer would send assignment documents to you, which you would sign and return along with your original note and mortgage.
  5. Within a few business days, the funds would be wired to your account.


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

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Get an offer for your note

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