How can I sell a private unsecured note?

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This note is a private party loan agreement contract. The private agreement is between two individuals. The payor on this contract has an exemplary 36 month payment history, and the lender will affirm this by affidavit.

The principal balance on this note as of June 21 2007 is $55,711.41 at a rate of 7% rounded for 47 more months.

The private lender desires to sell/assign this note and will do so at an 18%+ discount.

18% of $55,711.41 = $10,028.05 Making the sale price $45,683.36, The lender will accept $45,000.00 for the note, Which ads an additional $683.36 in earnings, This equates to an immediate earnings on the front end of $10,711.41 Then over the balance of the loan agreement as amertized the terms are 7% rounded. There are fourty seven more months left on the agreement, at maturity, the investor will realize another earnings of approximately $8,000.00

How can I sell this note?

How can I sell a private unsecured note?

I think you can probably sell it as a simple assignment. Does the note permit the lender to assign without the borrower's consent? If so, you execute a sale and assignment agreement and in return for payment you give the buyer the right to collect. If it requires the borrower's consent, you need to obtain that.

The real issue is finding the buyer. If its someone you know or someone you meet and negotiate with and have a sense is sophisticated, etc., then your risk is prett small, but otherwise if its someone you randomly meet there is a good chance that if the loan turns out bad that the assignee will look for a way to sue you to recover the amount they paid you for the note.

Selling this note needs to comply with or fall into an exemption under the federal and state securities laws. There is a general exemption for small offerings (like this one) and for arms length private party transactions, but if you just blast out an email or put a message on a message board, a jilted buyer who finds a good lawyer will likely sue you for violations of the securities laws unless you are careful and they'd be able to get recission (their money back).

How can I sell a private unsecured note?

try the bank.

How can I sell a private unsecured note?

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