///// Frequently Asked Questions \\\\\

What do I have to do to get instant CASH for my contract or note?: Once you have decided to sell your real estate secured contract or note, the procedure is simple. The first step is to review What We Buy to determine the qualification of your transaction, then please call us at your earliest convenience (between 9 AM and 6 PM Mountain Time) at 208-756-8890 to discuss your situation and specific needs, or complete our simple online Quote Request. Then you can determine which option that we offer will benefit your immediate needs best.

How much CASH can I expect to receive by selling my contract or note?: Exactly how much cash you can expect depends on a number of factors. These factors include the amount the buyer paid in cash towards the down payment, the amount of current equity, the creditworthiness of the buyer, the type of property, the interest rate, the length of the term, and the length of time you have been receiving payments. We will review your documentation taking all of these factors into account, and make you an extremely generous CASH offer.

Do you have a minimum or maximum amount of a balance that you purchase?: Not really, but if your remaining principal balance is less than $5,000 there would not be any financial benefit for you to sell your contract or note. As long as there is sufficient equity, acceptable buyer’s credit, a positive payment history, and the type of property is within our guidelines, we would definitely be interested in providing our absolute highest maximum CASH offer on ANY remaining principal balance. NOTE: Balances above $250,000 will more than likely be offered to be purchased as partial or split-partial purchases, unless the equity is very high, such as in the 40% to 50% range.

What if I don’t need all the money right now?: When you sell your contract or note, you have many various financial options for receiving your money. You could choose to sell all of the remaining payments or only a portion of the remaining payments right now and then receive payments again in the future. Or you could choose to sell just a portion of the payment stream, and still receive part of the scheduled payment. Or you could choose to sell part of the balloon payment, if applicable, with any combination of the above mentioned plans. The way we structure the purchase of your contract or note will depend entirely on your immediate needs. Once we carefully review all of your choices, you can decide which one is best for you.

How long will it take for me to get my money?: You will usually get your money within two to three weeks. We have found that it typically takes this long to get the appraisal or BPO, complete the title work, and prepare all of the documents necessary to close the transaction.

When I sell my contract or note, how will it affect the person paying me?: It won’t! The terms and condition of the original contract or note will remain in force. The only changes might be as to where the payments are sent and to whom the check will be made payable.

What should I do if I haven’t sold my property yet?: If you are currently in the process of selling your single family detached home and would like to know “How to Sell Your Home FAST for Top Dollar and get ALL CASH in 10 Easy Steps,” we have an easy-to-read-and-understand 39-page manual available with very critical information for a minimal fee. This manual provides the techniques and strategies you won't find anywhere else. The information you will discover has been written specifically in reference to selling single family detached homes only, NOT to include condominiums, mobile homes, rowhouses, or townhouses. Please click on How to Sell Your Home FAST to obtain this manual.

How do I determine the current equity in the property?: To determine the current equity in the property, add the total of ALL the loans/liens against the property, (if you have an All-Inclusive Deed of Trust or Wrap-Around Mortgage, use just the remaining unpaid principal balance of that loan/lien), and divide that figure by the true current market value of the property, then subtract that figure from 100. Example: Total of ALL the Loans/Liens = $82,648; TRUE Current Market Value = $104,500; 82,648 ÷ 104,500 = .79; 100 - 79 = 21. There is currently 21% equity in the property provided the true current market value amount is correct. The higher the equity, the more your contract or note will be worth when you decide to sell.

What is an all-inclusive deed of trust or wrap around mortgage?: An all-inclusive deed of trust, also known as a wrap around mortgage, refers to encumbering or “wrapping” the current first lien on the property. For example, let’s assume your property is worth $100,000 and your current first lien balance is $50,000. When you sell your home, if you are able to receive $20,000 as a down payment, you would create an all-inclusive deed of trust or wrap around mortgage, for $80,000. When you sell your newly created wrap around note, the current first lien is then paid off in full, and the all-inclusive deed of trust or wrap around mortgage will then become the first lien. You will then receive the difference between the amount owed on the current first lien and the cash you receive from selling your newly created all-inclusive deed of trust or wrap around mortgage.

Do you buy contracts and notes secured by all types of real estate?: We pay instant CASH for any type of real estate secured contract or note in first lien position, or which completely wraps around the first lien, (also known as “all-inclusive”), which has a current minimum amount of equity, payments are current, title is clear, buyer’s credit is acceptable, property is in good (or better) condition, and is secured by the types of properties within our guidelines, subject to underwriting review. Please review What We Buy for the complete list with specific descriptions and equity requirements.

What is the difference between negative and positive amortization?: Negative amortization occurs when the payment does not equal the amount of interest being charged on a contract or note, therefore the actual principal balance increases each payment over the term of the loan. Positive amortization is when the payment calls for a sufficient amount of interest to be paid towards decreasing the remaining principal balance for every payment received over the term of the loan. We (and/or our investors) are NOT interested in purchasing any contract or note which has negative amortization.

Why should I even consider selling my contract or note?: First, you might need the money for taxes, medical expenses, debts, college tuition, a new home or a new car, a large investment, a business opportunity, or even possibly a well-deserved vacation. Second, you will receive a large lump sum in CASH which you can use for any purpose you like. And third, you will no longer have the worry or hassle of collecting late or missed monthly payments, the possibility of default or foreclosure, or the inconvenience of supplying year-end tax forms.

Will you buy my contract or note as soon as I sell my property?: We will not be able to purchase your contract or note until you have received at least the very first payment, (sometimes 3 payments), usually scheduled within 30 days after the sale of your property. If the buyer’s credit report shows unsatisfactory payment records, we may have to wait until you have received a minimum of 3 scheduled monthly payments, perhaps more, to establish a positive payment history for the buyer.

Why should I sell my contract or note to you?: We have a very well-organized office with all the latest in computer technology and software, and the know-how to operate it! We are honest and up-front with our customers. We will tell you the truth rather than some candy-coated story you would like to hear. We don’t believe in the bait-and-switch scheme, which a lot of our inexperienced competitors use. We treat you with respect and dignity. We love to hear a good joke, and may pass one on. We are compassionate and considerate with your situation. Our expert service is second to no one and we return telephone calls and emails promptly. We have plenty of experience in the industry...in the business since 1994! We don’t want to become the biggest, just one of the best, so we quietly get the job done, and get it done right the first time. We also make it easy for you to contact us, from 9 AM until 6 PM Mountain Time any day of the week! Check out just a very few of the Testimonials we have received over the years. Our main concern is getting you the CASH you need now in the fastest possible way! At Big Sky Financial Network, we are fast, fair, and friendly, and specialize in quick, confidential closings. Does this sound familiar: “The bitterness of poor quality or service will remain long after the sweetness of good price is forgotten.” [Author Unknown]

Are you the actual investor or a broker?: Both! We have purchased numerous real estate secured contracts and notes in most of the states we operate in for our own account, but it depends entirely on our current situation, or to be more explicit, if we have the immediate available CASH! We prefer to be diversified and tend to be more interested in smaller balances, usually those under $50,000 for our own account, and in fairly close proximity to our location, within an easy day’s drive. Our friendly private investors around the country don’t have as many limitations, and definitely more CASH on hand, so that’s when we contact them for the highest CASH offer possible. Whichever direction we take at the time, you can be assured that we will always do our best to provide you with the absolute highest maximum CASH offer available.

I have a question you haven‘t answered here!: It’s very possible! There is no such thing as an illegitimate question! We truly understand the importance of your concerns and want you to be comfortable with your decision. If you have additional questions, please call us at your earliest convenience (between 9 AM and 6 PM Mountain Time) at 208-756-8890 and we’ll do our best to provide answers, or Contact Us, and we’ll respond as soon as possible.

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