Will a Mortgage Note Buyer Buy My Private Land Note?
If you need to sell a land note, there are mortgage buyers that like land notes and mortgage buyers that won’t even touch a land note. While I don’t purchase land notes for my portfolio, I do have a few note investors that buy land notes. As opposed to private notes on single family residences, most mortgage note buyers prefer more of a down payment on land notes, usually 25% and up. However, the key to selling a land note is comparable sales that support the original sale price. The housing market is so depressed right now that not much land is selling so there often are no comparable sales. If your note meets those two criteria and the buyer has good credit, then you have a very good chance of selling your private land mortgage or land trust deed.