Making Loans and Selling Your Note

It frequently happens that individuals holding promissory notes become frustrated when the buyers are late in their payments, and the accounting and servicing of the note becomes more than they anticipated.  It is also normal that other uses for the money appear and the time comes to convert your note into cash.

If you are at this point, more frustrations await you.  Many factors affect the present value of the note, and you may be shocked that the offers may be substantially less than the balance due.  The note interest rate may be lower than the prevailing rate.  The buyer's credit status may be undesirable, and the appraised value of the property may have deteriorated.  If these variables are not sufficiently confusing, there is the question of the capabilities-capacity of the persons you call to bid on your note.  Unfortunately, it is a fact of life that some of the persons who advertise to purchase notes use trickery and deception to make an apparent high bid and then at the moment of closing, find some excuse to drop the offer.

The one thing we promise at American Industries is total candor.  As soon as we have all the information and copies of the paperwork, we will make a realistic offer in writing, which, if accepted, will be the purchase price.  We will then open a file with a title insurance company, and close the purchase as quickly as possible.