Note seller question - Experts, please help

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Posted by Lori on July 24, 2002 at 14:22:55:

I am confused, please help.

I am considering simultaneous closing on my
house. I have a couple offers to purchase the
note. But here is the problem.
Doing it first time, I thought the note would be
written for the amount = sale price - down payment.
The offers I have are much less than the price of
the note. Why don't I get the price of the note
itself?

I decided to do this owner financing deal,
thinking that I would cash out the note I would
carry but I have to take a big cut on it.
If I didn't do it I would have had that in the
equity for the next house!
Is this the way note selling works???

Thanks,
Lori


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