It is impossible to tell until we get all the data and documents from you, the note holder. Each note is different. Maturity date, interest rate, number of payments received, the credit of the payor etc. all influence the amount paid for the note.

There are two basic ways to buy a note.

Usually within 15 to 20 days after we receive all the documents from you.

In many cases we can. In such a case, if he does buy the note, the buyer naturally will pay less for the note. It's all a matter of risk-reward. The higher the potential risk of default, the less paid for the note.

Except for very rare circumstances the note must be in first position.

In order to give a quote to purchase, we take basic information about the note itself. Then we will need a copy of the note, a copy of the security agreement, and any collateral listing which is available (equipment, inventory, etc.). We can then give you a preliminary quotation to buy the note.

Upon conditional acceptance by you, the note seller, the buyer then proceeds with further in-depth checking (known as due diligence). These checks include credit checks, documentation that the note is being paid on time, whether the payor on the note has past business experience etc. The buyer, after all, is interested in reducing his risk before he buys the note.

Assuming that no substantial negatives are found after his review, the buyer will close on the purchase and can usually wire funds to you within two to three weeks after the date of receipt of the final documents from you.

No. All costs, fees and commissions are included in the purchase price. You will be quoted a net price with no additional costs.

Anywhere from $10,000 into the millions.

Usually the more payments made, the lower the discount. Note buyers usually like to see at least four payments or more made on time. The longer the seasoning, (number of payments made) the higher the purchase price.

Yes and No! Many notes are bought without recourse. Sometimes the buyer may want recourse from the note seller to overcome a bad payment history by the note payor. Giving recourse usually increases the security for the note buyer, and may result in a higher price paid for the note. Actually, the note seller doesn't really sacrifice much by giving recourse, since he already is exposed in the event of default.

Absolutely not.