FREQUENTLY ASKED QUESTIONS Why Should I Sell My Real Estate Note?   There are many reasons why selling your Note now can benefit you.   Here are just a few: Receiving cash today has more value than it will 5 or 10 years from now.      Pay off debts, tax liabilities, college tuition fees, medical bills. Make home improvements, buy a second home, invest in a business.  Take that dream vacation, fund your retirement, meet financial changes. Peace of mind...being free from the worry of receiving late payments or having to foreclose on the Note Payor. Accounting nightmares, IRS regulations, and paperwork hassles. Never having to worry about whether the taxes & insurance                premiums are being paid each year to protect your investment. How Much Will I Get For My Real Estate Note?  How Much of a Discount? The value of your Note and its Discount Price are based on a number of factors.  We  take into consideration the following when pricing a Real Estate Note or Divorce Lien: Sales Price of the property; Down Payment Amount; Note's Interest Rate; Term (years) of Note; Balloon Payment; Credit of the Note Payor & Payment History; Appraisal (Value), Condition, and Location of the Property;                   Type of Note and its Lien Position (1st, 2nd, wrap-around). Monthly / Annual Payments on Note; Current or Delinquent. What costs are involved?  How much are my "out-of-pocket" expenses?                  When selling your Real Estate note or Divorce Lien, you will have NO out of pocket expenses.  We cover title insurance, property appraisal, note payor's credit report, and recording fees. We pay all of the Note's acquisition costs. However, we do not pay for any past due property taxes.         OUR QUOTE TO YOU WILL BE A NET FIGURE When I sell My Note, will it have any affect on the Note Payor? No; none.  When you sell your Real Estate Note or Divorce Lien the only change will be where and to whom the payments are sent. All terms of the original note remain unchanged. The Note Payor is required to abide by the original terms of the Note.   How long does it take to sell my Note; When do I receive my funds? Where? The process takes 2 to 3 weeks.  We have closed transactions in as little as five (5) working days.  Count on less than 30 days. The more information we can obtain up front, the quicker we can close. Your funds will be disbursed to you by certified check from the title/escrow company via overnight mail, or in person at the title/escrow company in your area. I live a long way from your firm's offices.  Can you still help me? Of course!  Most of a transaction includes an exchange of paperwork which can be done through the mail, and by fax or e-mail. We can close the transaction at your location; anywhere throughout the United States.   Do I need an attorney?  What about a CPA or accountant? That's entirely up to you.  We work with attorneys and accountants on a daily basis.  In fact, most of our real estate note business come from these Professionals so feel free to show all documents to your professional advisor, family member or friend.  Moreover, we encourage it.   What types of Real Estate Notes do you purchase and where? We will consider any Notes secured by single family homes, 2-to-4 unit multi-family homes, condominiums, townhouses, mobile homes, and commercial ventures. The mortgage instruments on the property can be 1st or 2nd position liens; divorce liens, wrap-around mortgages; with / without balloon payments.   What information do I need to provide and how fast can I get a quote? We will need to know: Property Type, Sales Price, Amount of Down Payment, Original Mortgage Amount, Current Mortgage Amount, Interest Rate on the Note, Term (years) of the Note, Monthly Payments, Balloon Payment, Note Position (1st or 2nd), Occupancy of Property and Property Address.  Once we examine this information, we will get back to you within 24 hours with a No- Obligation Price Quote.   Does your company originate any loans? No, TK ENTERPRISES, LLC does not originate any loans.  We don't lend money.  Our sole business is Real Estate Note Purchases. Who invests in Real Estate Notes? There are thousands of individuals across the country who invests in Real Estate Notes.  However, that's a small number compared to the banks, pension funds, and institutional investment firms; by far, the biggest investors in promissory notes & divorce liens secured by real estate.  The upside is that Note Investors know the yield even before buying the Real Estate Note.    What is a Note Appraisal? A Note Appraisal reflects the current market value of your payments similar to what a real estate appraisal provides for a house.   Frequently referred to as a "quote" the Note Appraisal shows what your future payments are worth in cash dollars today.   Once a year, you should have your Real Estate Note evaluated & appraised.   Why is an original property appraisal done? An original property appraisal, with original color photos, allows the underwriter to clearly view the subject property to help make a determination on the property's merits.  Original appraisals help us avoid bad note purchases (i.e., bad investments).  Smart business practices like this allow us to buy notes at their highest values.