Over the past few years of low interest rates, there was not a lot of news about owner financing. Alan Noblitt is the President of Seascape Capital, LLC, and works as both a real estate note buyer and a business note broker. Alan has an MBA from Arizona State University, a B.S. from the University of Wyoming, and is licensed as a California Real Estate Note Buyer.
Previously, he worked for Hewlett Packard for 18 years in finance and marketing positions, with five of those years spent in France. He launched Seascape Capital in 2002, and incorporated the business in 2003. Seascape was a pleasure to work with. Alan made the process quick, easy, and was happy to work a local title company to close the sale.
Previously, he worked for Hewlett Packard for 18 years in finance and marketing positions, with five of those years spent in France. He launched Seascape Capital in 2002, and incorporated the business in 2003. Seascape was a pleasure to work with. Alan made the process quick, easy, and was happy to work a local title company to close the sale.
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For expert, free advice about finding a note buying company and understanding the process for selling a mortgage note, watch the video "Getting the best price for my note" on the home page. To get a quick overview on how to get cash for your note from a mortgage note buyer, view the information below or look at the several articles under the "Mortgage Notes" heading above.
If you sold a property using owner financing and are receiving payments on your mortgage note, you may have heard that you can sell that note and get the cash out of it. You may be wondering about the advantages and disadvantages of selling your note. Perhaps you are deciding where to start, how to find a trustworthy mortgage note buyer, and how much your note is worth.
Owner financing refers to a transaction between individuals or companies for selling a property or business without using a bank. The seller of the property or business is financing the sale to the buyer. In most cases, the property or the business becomes the collateral for the financing.
Although it is not technically a loan, the seller of the property is in a similar position to a bank in that they hold a mortgage note, collect the payments, make sure that taxes and insurance are collected, etc.In order to increase clarity in this article, we will mostly talk about real estate notes and mortgage note buyers.
Although it is not technically a loan, the seller of the property is in a similar position to a bank in that they hold a mortgage note, collect the payments, make sure that taxes and insurance are collected, etc.In order to increase clarity in this article, we will mostly talk about real estate notes and mortgage note buyers.
When an owner financed property is sold, a number of documents are created. Two of the most important ones are the purchase money mortgage and the promissory note (e.g. the note). A purchase money mortgage is a mortgage issued by the seller of the property to the buyer as part of the purchase transaction.
In the note business, we consider a commercial note to be one in which a commercial property was sold using owner financing. If you sold a business without the real estate (business assets only), we would call that a business note and ask you to go here. Mixed-use property notes (for example, where a retail shop is downstairs and an apartment upstairs).
Reviews (5)
Donna Ellison
Dec 27, 2018
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I recently completed a transaction with Seascape Capital and was completely pleased with the service and outcome. Mr. Noblitt was professional, friendly and honest every step of the way. I would most certainly use their services again or recommend them to anyone that I know in search of a company to purchase a mortgage or note from them.
Robert Villafranca
Nov 27, 2018
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Richard Kuberski
Nov 16, 2018
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I found Seascape Capital on the internet. If there are a lot of companies that do what they do, I was not aware of them.
My sole contact there was Alan Noblitt. He was a tremendous help on the loan I wanted to sell. The loan was part of my mother's estate and to close out the probate, I needed to eliminate this loan. The borrower was not able to refinance the loan and before this process was over, he also became less than cooperative. Alan stuck with us on this through to completion.
Dealing with someone you never met and had to give a measure of trust was difficult at first. I did check his
My sole contact there was Alan Noblitt. He was a tremendous help on the loan I wanted to sell. The loan was part of my mother's estate and to close out the probate, I needed to eliminate this loan. The borrower was not able to refinance the loan and before this process was over, he also became less than cooperative. Alan stuck with us on this through to completion.
Dealing with someone you never met and had to give a measure of trust was difficult at first. I did check his
Alan Fiehler
Oct 29, 2018
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Tiffany Heger
Aug 18, 2018
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I found seascape capital doing a search for mortgage note buyers and after getting numerous offers from other companies I decided on seascape capital. Alan contacted me quickly and was able to put together an offer higher than the competitors. He helped me every step of the way; answering numerous questions and giving me clear and concise information and directions. Alan made the entire process quick and easy. We had the deal complete much quicker than I thought it would take and I am very pleased with the outcome. I would highly recommend Alan Noblitt and seascape capital and would definitely
