Real Estate notes are also known as mortgage notes.
When selling your note, there a a number of ways to do so.
You may sell it partially. This is a process when the buyer has the note until enough payments are made to match the selling amount. An example is you sold your property for $100,000. The buyer gave you a $10,000 dollar down payment, making the note $90,000 plus interest which is divided into monthly payments. You want an extra $10,000 dollars for expenses. You can get the $10,000 by selling the note until a certain amount of the usual monthly payments have been made. At that point, the note goes back to you.
You may also get a sum of money and a fraction of monthly payments afterwards.
If you have a second lien against the house: banks or anyone else with a senior lien, selling your note will not render as high of a profit. This is generally true if the buyer did not put at least 30 percent down payment or built in equity.
You may also sell it entirely.
When selling your note, there are precautions that need to be noticed. There should be no upfront cost. Also, there should be no additional costs. All costs should be included in the payment amount to you. Make sure the note buyer checks the credit of the property buyer first. This prevents the note buyer from quoting one price in the beginning and lowering it in the end because of the property buyer having a low credit score. More info: sell real estate note