Sierra Financial Services Group represents funding sources and investors who specialize in tailoring  to your particular needs the purchase of part or all of your private (owner take-back) note's remaining  monthly payments, or the balloon payment (if there is one), or both (a full purchase). We are proud to be a member of the American Cash Flow Association.

We work with all types of seasoned notes (at least 2 or 3 payments already made) for real property, AND with new notes that are created in a Simultaneous Closing:

• Residential Notes - Notes that are created by the sale of residential properties. This category includes houses, townhouses, condominiums, and one-to-four-family rental units.
• Commercial Notes - Notes created by the sale of any type of business properties. This category includes office, retail, apartment (more than four-family units), and industrial properties.
• Vacant Land - Notes created by the sale of vacant land. This category includes unimproved (raw) land, improved (for development) land, and building lots.

Simultaneous Closings - If a buyer has a down payment, and can support the monthly payments for a property (directly and/or through rents), but cannot for whatever reason qualify for a bank loan, and a seller does not wish to carry-back and subsequently collect the payments over time on a private mortgage note (and bear the risk of a default), then a (technically, an "almost") Simultaneous Closing can satisfy the needs of both parties. It works this way: Prior to setting up the closing, the seller and the buyer agree on the terms of the deal, including the agreement by the seller to take a private note (normally one with a "balloon") for the balance of the purchase price.

The seller and the funding source separately agree that the source will make a full purchase of the seller's private note, just after the purchase is finalized (usually within three days after the closing). In this interval, the elements of the closing  are verified by the funding source. Then the source buys the private note from the seller (wiring the money to the seller's account); the buyer now makes payments on the private note to the funding source. The seller has cash for the sale, and has nothing further to do with the private  note. The buyer now has the the time until  the balloon payment to make steady payments, improving his credit, and then be able to arrange to refinance the private balloon note, or to sell the property, hopefully at a nice profit.

As a bonus, there are no bank mortgage points and bank attorney's fees to be paid, and the closing and processing fees for recording the deed and the like are minimal. Plus, if the deal is completely private (FSBO or sale-by-owner), there is no 6%-or-so realtor fee.

One of our note specialists will be delighted to work with you to arrange a note purchase that suits your personal situation.