Selling Your Mortgage Note: A Step-by-Step Guide

Selling a note sounds complicated the first time you consider it, but the actual process is straightforward and typically takes three to five weeks start to finish. Here's what happens at each stage.

1. Tell us about your note

You share the basics: remaining balance, monthly payment amount, interest rate, and the property address. If you have the original note and deed of trust handy, great — if not, that's fine too, we can help track paperwork down.

2. Get a cash offer

We review the note's terms, payment history, and the property's estimated value, then give you a straightforward cash offer — usually within 24 hours. There's no cost and no obligation to accept it. If the number doesn't work for you, walk away with no hard feelings.

3. Due diligence

If you accept, we order a title search to confirm there are no liens or ownership issues, and a property valuation to confirm current value. We also verify payment history. This stage typically takes two to three weeks.

4. Closing

Closing happens at a local title company or attorney's office, similar to a real estate closing. You'll sign an assignment transferring the note and deed of trust to the buyer.

5. Funds wired to you

Once closing documents are signed and recorded, funds are wired directly to your account — typically the same day as closing.

What you'll need to have ready

• The original promissory note
• The deed of trust or mortgage
• The settlement statement from when you originally sold the property
• Recent payment records, if you've been tracking them yourself

Missing a document isn't automatically a dealbreaker — let us know what you have and we'll tell you what's workable.