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Many people seeking a lump sum of cash want to know how to sell mortgage notes for top dollar and where to find a note buyer. Fortunately, the process is quite simple, especially given the fact that you can find some of the nation's top buyer online and get a competitive quote in a matter of hours.

You might not have been aware of the fact that you can sell mortgage notes online, but more and more sellers are choosing to do so as it opens the door to a nationwide pool of qualified note buyers. Rather than opening up the phone book and limiting yourself to local investors, you now have access to professionals from New York to California, and everywhere in between.

The best part is you can take care of everything via phone, fax and email, so there's no need to be in the same area, even the same state as the note buyer. And you can usually have your cash in hand within a few weeks, as the average transaction takes between 10-14 days to complete.

How to Sell Mortgage Notes Online

There are a number of note buying sites online, so find one that appeals to you and see if they have a form you can fill out. They will usually ask for a little information about you as well as details about your note. Fill in as much information as you can as this will be helpful to the potential buyer.

Once you've submitted your information, you should receive a call or email within 24-48 hours from a professional note buyer who will discuss your note with you. Keep in mind that this initial consultation should be free. If you are asked you for a consult fee, you probably don't want to deal with the person...most reputable buyers will not charge you for this.

During the initial contact you will discuss the details of your note including balance, time remaining, interest rate, payments to date, etc. The buyer will use all of this information to decide what to offer you for your note. Keep in mind that it has to make financial sense for them as well, so the stronger the note the more you can expect to receive for it. Remember, the buyer is now assuming the risk for you, so they have to deal with all of the potential problems that could arise down the road, e.g. inflationary pressures, payor default, unstable economy, etc.

Even so, money today is always worth more than money tomorrow, so even though you will not get the full dollar value when you sell, you still get a guaranteed lump sum of cash without exposing yourself to any risk. And if you are able to invest that money, it can add up to much more than the value of the note over time.