Wondering just how much your Land Contract is worth?
The value of your Land Contract is affected by many factors including the:
- Down Payment
- Terms of the Land Contract
- Buyer’s Credit Rating and Payment History
- Type of Property Sold and Its Current Value
Since each transaction is unique, we offer a free analysis based on your individual situation.
Fortunately, it is easy to obtain a free evaluation in 3 easy steps:
Step 1 – Gather Copies of Documents
The first step is to gather copies of the documents. The primary documents utilized in the quoting process are:
- Settlement Statement
- Land Contract (Mortgage or Deed of Trust, Real Estate Contract, etc)
- Promissory Note (if part of the transaction), and
- Payment Record
Hopefully, copies are easily accessible with the originals located in a safe deposit box or other secure location for safekeeping. If a seller later decides to sell the payments then the investor will ask for a few other documents plus the appropriate originals at closing. But for now, these copies will be reviewed for an accurate quote.
Step 2 – Complete the Quote Request Worksheet
The Quote Request Worksheet is a simple single-page form. This worksheet summarizes the transaction with most of the information obtained from the document copies. It includes details on the property type, buyer, repayment terms, and current balance. (Please visit the Quote Request and Free Analysis page to print a PDF version of the worksheet or to submit online).
Step 3 – Send for Review
The third step is to submit the worksheet and the document copies to an investor for pricing. Depending on the investor this might be submitted via email, fax transmittal, or an online submission process.
Patriot Funding Can Help You Get The Value of Your Land Contract
Most contract buyers will provide a free no-obligation quote within 48-72 hours. The quote is generally good for 30 days and is subject to due diligence, which includes a review of the title, appraisal, insurance, buyer’s credit, and other underwriting items. The more information an investor has up front the fewer “subject to” items they will include with the evaluation.