Note Buyers

Buying Notes is easy using our unique Trading Platform. We offer an array of tools to help you find the right investments. Your first step is to become a Registered User.

Single Notes / Bulk Notes: Our system is designed mostly for the small investor purchasing one or more notes at a time, but if you are a Bulk Purchaser, we also can help you achieve your goals. For Bulk Purchases, please Contact Us and one of our Account Reps will be glad to assist you.

Searches / Favorites: we allow you to search specifically for just the notes you’re looking for. Each search can be saved as a Favorite for later one-click retrieval. You can also customize your email notifications and receive an email each night highlighting new notes placed on our system that match your Favorites.

Buyer's Tools: Buyers have access to numerous search tools, and watch lists. You can also purchase a Title report if desired, all with the simple click of a button.

Document Review: Once you have "won" a note, you can view documents associated with the note in our Document Viewer.

Mobile Application: With our Free Mobile Application you can perform new searches, view your watch list, and check on the notes you are trying to purchase.

Buying Options: Sellers determine the manner in which they would like to sell their notes. You can learn more about these options on the FAQ(s) on this page.

Closing Procedures: Seller and Buyer are both notified via email upon a successful transaction. We have an exclusive 6 step process that is handled right online so you can manage it every step of the way. We have put all the pieces together so you don’t have to.

If, at any time, you need additional information or would like to share feedback about the process, please do not hesitate to Contact Us. Our goal is to provide you with all the tools and information you need to make the best possible investment decisions.

Frequently Asked Questions

Anyone is capable of purchasing a note, but you should understand the process and seek competent legal advice before engaging in any investment opportunity. We are here to provide you opportunities but do not provide legal advice on any note that is for sale. Buyer beware – purchases are at your own risk.

Also, if you make an offer to purchase a note, you should be prepared to close on that note. Please do not make offers or bids on notes that you are not capable of or willing to close on. If you do, you may become ineligible to use Note Trader Exchange. We take using our system very seriously and we respect all clients and do not want anyone to be hurt because people were not able to complete a transaction that they made a promise on.

To be able to purchase notes and review available documents, you will need to complete the Buyer’s profile. To get the most out of finding and tracking investments, please make sure you have saved a complete Buyer’s Profile, set up your Favorites, and use your Watch List. This will allow you to be able to receive email notices and make sure you don’t miss any great opportunities.

Once you have decided which note you would like, purchasing that note is easy. The Seller determined the type of sales process and you can follow it in the system. Once you have ‘won’ a note you will be given a congratulations message with instructions. You will also be sent an email detailing the next steps for closing the transaction with the designated escrow agent for that note.

Favorites are search criteria that you save in the system so you will not have to enter that criteria again. Each night, we run a process that looks through all the Notes that were added to the system on that day, and if they match one of your Favorites you’ll receive an email letting you know that we have new deals available that match your criteria.

To Set Up your Favorites click on the Buyer's Dashboard. You will see a Tab called Manage Favorites. On that Tab you can Add New Favorites or Delete old ones.

To View your Favorites click on the Buyer's Dashboard. You will see a Tab called View Favorites. On that Tab you can Select one of your Saved Favorites or View all your Favorites.

From the Active Note Listings Page (default page that you are sent to once you log into the system), you can perform a search for all the notes that are currently available for sale. The selection criteria includes: Note Type, Note Position, Property Category Type, and State. From this Search, you can then choose to pick the type of sale that you are interested in: All Listings, Bid Process, Buy Now, or Make Offer.

Also, under the Buyer's Menu you can view Notes that match any Favorites that you have set up, view Notes you have selected for your Watch List, and see all Notes you have Under Contract or have Closed.

The Seller determines the Listing ‘Style’ that they want to use for selling their note(s). They can choose from the following list:

Bid Process Only: this means that the Seller is using a bidding process with a bidding deadline for the sale of their note. You will need to engage in the bidding process to complete this transaction.

Bid Process and Buy it Now: this means that the Seller is accepting bids but the Buy It Now is also available. Once the amount of a bid exceeds the Buy It Now price this option will no longer be available.

Buy it Now Only: this means that the Seller is looking for a specific dollar amount on the note.

Make Offer: this means that the Seller has not disclosed the amount that they are looking for and is asking for offers. Under the Make Offer a Seller will respond to your offer directly and the Buyer will receive a confirmation email of the Seller's response. If the Seller accepts your offer then it will immediately be moved to the Buyer’s Under Contract List and you will receive an email to initiate due diligence and closing procedures.

Buyers will be given the option to purchase a preliminary O-E Report if they desire. This is located on the Note Information page associated with each note. Once you choose to order this item you will be directed to a pop-up screen to select from the Approved Title Agents that are a part of our Preferred Resources network. From there you will be directed to their website where you can complete your order.

We do allow you to see initial Documents that the Seller provided (if there are any). To the winning Buyer all Documents that the Seller has supplied are available in the Closing Section in your Buyer Dashboard - Under Contract List.

All purchases are handled on the Note Information page. There are appropriate buttons on this page to guide you through the process of purchasing any Note on the system. Once you have been confirmed to have 'won' a Note, it will be removed from Active Status and be moved to your Under Contract List. From that time on, you will be able to find it under the Buyer Dashboard – Under Contract List. You will also receive an email with all the instructions needed to proceed with due diligence and closing. The Seller and selected Title/Escrow Closing Agent will also be notified of your intentions so that all parties can coordinate the necessary steps to complete the Transaction.

If you place a bid on a note that is being sold with a Bidding process you will be notified if you are the winning bidder in the same manner as outlined above. If you didn’t win the bid you will be notified of that as well.

The Buyer's Dashboard includes the following:

Watch List: this is a list of notes that you have put in your watch list. It allows you to keep track of the notes that you are watching. On the Note Information Page you can Add a Note to your Watch List and Remove it on the same screen.

Manage Favorites: this allows you to Add and Remove Search Favorites. Because of the high volume of potential Notes for sale this feature allows you to filter through the Notes and see only the ones you might be interested in.

View Favorites: this is a short cut list of all your Favorites. It allows you to see what inventory is Active for the pre-defined Favorites you set up.

Open Offers: these are Notes that you have made offers on or have placed a bid on.

Under Contract: this is a list of notes that you currently have Under Contract and waiting to close. Here you will see the list of notes that you need to supply some additional information to complete the closing process (see Closing a Note for more information).

Closed Notes: this is a list of completed transactions. This will allow you to see all the transactions that you have completed. All notes are moved into this List by Admin once we get the closing information from the Escrow/Title Closing Agent.

Monitoring Notes that you are interested in starts with adding any Note that you have an interest in to your Watch List. You can visit all the items you are watching in your Buyer Dashboard - Watch List page at any time.

All registered users have the ability to download our Free Mobile Application. The Mobile Application will enable you to perform Searches, check your Favorites, monitor any notes that you have currently Under Contract, your Watch List and your Favorites.

When you select Buy It Now, get your Make Offer Accepted, or are the Winning Bidder, you will receive a congratulations email and that Note will be moved to your Buyer Dashboard - Under Contract List. In this List you will be asked to provide some closing information (Assignee Name, Assignee Full Address, Servicing Company), View Documents, sign the Note Purchase Agreement, sign the Escrow/Title Company agreement, and download or print available Closing Instructions. This will include contact information for the Escrow/Title Company and their wiring instructions for the earnest deposit and for completing the transaction. The Note will remain in your Under Contract List until the transaction is completed.

Relationships are key in this business so we take it very seriously when someone commits to purchase and then is unable to or backs out of a transaction. We also take it just as seriously when a note is advertised and is not what was promised. We do our best to bring all parties together with the intention that everyone wants to complete the transaction but sometimes things do not work out as planned and unknown issues surface and get in the way of a smooth transaction. We will help work through each issue - you are not alone.

We do understand that sometimes things happen and you cannot complete a transaction, however this is not something that our system or the business climate itself has a high tolerance for. Repeat offenders may be banned from being able to use our system.

Once a note is ready to be purchased, both the Buyer and Seller are immediately notified via email. The email received will give you instructions and direct you about how to begin the Closing Process. You must complete the required information in your Seller's Dashboard - Under Contract List to keep the process moving in a timely manner. Below are the steps for each closing:

Step #1 - Closing Information Needed: both Buyer and Seller provide closing information needed for the assignment, signs required documents, and upload Note Documents to share with Buyer and Title/Escrow Company (if required). Upon completion of this step by both parties our automated Document Generator will prepare the needed Agreements.

Step #2 - Document Generation: we have an automated process that will prepare all the documents need to be signed by both parties. Once the documents are prepared (it only takes a few moments) both parties will be notified via email.

Step #3 - Sign Documents: both Buyer and Seller will need to log into the system to review and apporve agreements. This is done with the click of a button - giving your Approval will automatically sign the document for you and record the event.

Step #4 - Admin Send to Title/Escrow Company (if required): admin at Note Trader Exchange will go over and approve all information to submit to Title/Escrow Company to begin closing process. Both Seller and Buyer are notified via email when this step has been completed.

Step #5 - Open Escrow: buyer will begin Due Diligence period by submitting a 5% deposit with Title/Escrow Company by following written instructions provided by them. Upon completion of this Step Buyer will return to the System and mark that it has been completed (updating the System can be done by the Buyer, Admin, or the Title/Escrow Company)

Step #6 - Title/Escrow Company: will prepare all required documents, recordings, and handle dispensing of all funds.

Once Note Purchse has been completed Admin will close the sale out on the Note Trader Exchange system and this note will be moved from Seller Under Contract List to Seller Closed List.

We are here to help you through the entire process. We do our best to make sure that we can complete the transaction.

Buyers who are purchasing a Note with a Purchase Price under $25,000 have the option to close directly with the Seller and not use the preferred Title/Escrow Company.

Using Preferred Resources: to ensure a smooth flow of the volume of Notes being traded concurrently, we have partnered with multiple third party Title/Escrow Companies to oversee the closing process. We have built solid relationships with these companies and they are each capable of handling Escrow services nationwide and Assignments for the Note Sales we send them (as well as a host of other services). We have established these relationships so that the process can be quick, efficient, and most of all safe for all parties. Working with our Preferred Resources offers the greatest opportunity for success.

We have gathered information upfront from each of our Partners which allows us to promptly send both the Buyer and the Seller Closing Instructions. You can view these documents and learn additional information on each of these companies on our Resources web page.

If there is a Company you would like us to see added to the list please Contact Us and we will see if we can set up that relationship.

Closing Costs: with any transaction, there are closing costs associated with the assignment and transfer of the note. These costs are split between the Seller and Buyer and should be outlined in the packages provided in advance by each Escrow/Title Company. They range from $400-$600 for a single note transaction ($200-$300 to each party). There are additional Services that can be ordered and these will be added to the standard closing costs. Through the use of our relationships and added technology we are working to keep these Closing Costs to a minimum.

Buyers who are purchasing a Note with a Purchase Price under $25,000 have the option to close directly with the Seller and not use the preferred Title/Escrow Company.

We have two sets of Buyers on participating on our Site.

Buyers: these are Buyers who are able to look at product that is available for sale from most of the Private Sellers we have on the site.

Trophy Buyers: are Buyers who have already proofed up to us or the Seller and have access to Notes that ONLY Trophy Buyers can see. This was specifically set up to handle larger institutions who want to know more about those who have access to the their Notes for sale.