Day 1 – Offer: A detailed discussion will occur between you and your designated Loan Acquisitions Officer revolving around the specifics of the real estate note. Our team will review the details and begin working in the background to give you our best possible offer. Your Loan Acquisitions Officer will then present the offer to you!
Day 2-5 – Sign Deal: After we have communicated the offer to you, the ball is in your court! You decide what your commission will be, let us know so we can assist in drafting up a formal offer for you to structure you Broker/Seller agreement and then present the offer to your client. We are here to assist you throughout the entire process, so let us know how we can help! Once your client signs the paperwork, we can move forward with the process and will begin working on the rest of the pieces.
Day 6-14 – Due Diligence: We complete all of the due diligence that is necessary, including a purchaser interview, property evaluation, and ordering the appraisal. Once we receive the approval from underwriting we will order the title, all at the expense of First National Acceptance Company!
Day 15 to Close – Processing: Once we have everything we need, our team will work with you on the closing information and make sure that we know where to send the funds!
At Closing – Receive: On the day of the scheduled closing, you will receive 2 separate wires; one that is for your commission and one that is for the lump sum of cash going to your client for the note.
Working Together: No matter where you’re at in the process, your designated Loan Acquisitions Officer will walk you through every step! They are experts in note selling and want to make sure you understand what’s going on and how it’s all going. We are excited to be a part of your journey.
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