Secrets of Paper
10 Signs a Note Buyer may be Trying to Cheat You
The following is a list of things
a note holder should be aware of when contacting a note buyer for pricing
options and when selling their note. If you experience any of the
following you might want to work with someone you can trust:
- If a full purchase price offer is too good to be true.
- If they are giving you an unrealistically high price (much higher price
than other note buyers you have contacted).
- If they tell you the price given is good today only (prices are
normally good until the next payment has been made on your note).
- If they pressure you into signing a Purchase Agreement.
- If they are unlicensed in their state (if applicable).
- If they ask you to pay costs up front (you shouldn't have to pay
costs at all, you are already taking a discount on your note).
- If there is no visible progress two weeks after signing purchase
agreement (was appraisal ordered? title ordered? etc.)
- If they lower the price within days of funding.
- If they lower the price without ability to show proof of negative
factors (the 3 main reasons the value of a note will go down after the initial
price is given are unacceptable credit, property value lower than the sales
price and title defects that cannot be fixed).
- If they coerce and intimidate you into accepting a lower price.
Experienced, knowledgeable and professional note
buyers have signed an Ethics Pledge and uphold an industry Code of Ethics and
Conduct. Since 1991 Armstrong Capital has operated in a straightforward,
honest and fair manner... the way it should be. We invite you to
contact us if you have any
questions or concerns or if we can assist you in any way.