Buy

• 1). Locate a seller by networking with real estate agents, attorneys and or accountants. They often work with those that currently hold cash notes.
  
  
• 2). Contact the seller directly by either calling or writing them to obtain more information about the note such as the current balance, payments left to be paid and payment history of the payer.
  
  
• 3). Send a written offer to the note seller with the price the seller is willing to consider. Put in the offer that the offer will expire in 10 days from the date of the letter. Include your contact information and include a list of things the seller would need to forward to you or to a predetermined escrow company to complete the sales transaction. Some items the seller may need to forward include the copy of the cash flow note, payment history, title insurance if the note is attached to property and any other pertinent documents in regard to the note itself. Each note is different and so each circumstance is different. The documents needed will vary.
  
  
• 4). Participate in any due diligence the escrow company may ask you to comply with such as ordering an appraisal or driving by the property to obtain photographs.
  
  
• 5). Complete the transaction and pay the seller the agreed upon amount. Send out notices to the payers and any other involved parties that payments are now to go to you.
  
  

Sell

• 1). Locate a buyer by first searching in your local classifieds for ads that read "We Buy Houses" or "Cash for Your Settlement." These are usually small companies or other private buyers that purchase cash notes. Answer any questions they may have about your note.
  
  
• 2). Review carefully any offers that are sent to you. Choose the one that is most appealing to you and forward any paperwork that is requested such as a copy of the note, payment history of the payer and any other documents that can help them complete their transactions.
  
  
• 3). Wait 30 to 45 days if your cash note involves real estate for the sale to be completed. If your note is not secured to real estate, then the transaction could take even less time. Collect your check from escrow or have it mailed to you using a method that involves a tracking number.