A 6-acre South Carolina property with a mobile home on the lot sold for $44,000. The seller sold the note to Damen Capital at closing and collected $39,000 — 88.6% of the sale price.
The seller listed a 6-acre South Carolina property at $44,000 with seller financing. A mobile home happened to be on the lot, adding value for the buyer.
With a $33,243 note at 11% over 54 months, Damen Capital quoted $30,000 for the note.
Damen Capital purchased the note at closing and wired funds directly to the seller. Total cash collected: $39,000.
The 54-month term on this note meant less time value of money working against the seller. Combined with a reasonable rate and solid property, the seller collected 88.6% of the sale price at closing — one of the highest percentages in our portfolio.
Get a no-obligation quote from Damen Capital Fund. We'll tell you exactly what your note is worth.