We believe in the win-win philosophy of you win, I win and both of us walk away from the transaction happy, prosperous and satisfied. Keith D. Harris is an expert in private real estate financing. He has counseled individuals and companies in structuring private paper transactions and turning private paper assets into cash.
Mr. Harris' specialties include: assisting other professionals with structuring quick sales of difficult properties for their clients, through the creation of notes which can be liquidated for cash at the close of escrow ("simultaneous closings"); disposing of existing notes to achieve cash liquidity for clients; and structuring transactions whereby private paper can be used in lieu of cash towards achieving investment or personal acquisition objectives.
With this guidance, Mr. Harris' professional associates have been able to help their clients sell properties that are difficult to sell.Additionally, he has helped buyers purchase properties who had difficulties qualifying.
Mr. Harris' specialties include: assisting other professionals with structuring quick sales of difficult properties for their clients, through the creation of notes which can be liquidated for cash at the close of escrow ("simultaneous closings"); disposing of existing notes to achieve cash liquidity for clients; and structuring transactions whereby private paper can be used in lieu of cash towards achieving investment or personal acquisition objectives.
With this guidance, Mr. Harris' professional associates have been able to help their clients sell properties that are difficult to sell.Additionally, he has helped buyers purchase properties who had difficulties qualifying.
Services
In 1996 I sold a commercial property for $1.5 million.
The buyer gave me $300,000 as a down payment and I financed the balance.
I needed cash for another investment and I contacted Harris Note Investors, In 2001, they bought the note and offered me a good buy out price for my note, and closed very quickly.
I own a mobile home park in upstate New York.
I got into some bad shape with the IRS and owed about $300.000.
My credit was not the best, so Mr. Harris provided a Hard Money Loan for 2 years for $750,000 until I rebuilt my credit and refinanced at a lower rate.
The buyer gave me $300,000 as a down payment and I financed the balance.
I needed cash for another investment and I contacted Harris Note Investors, In 2001, they bought the note and offered me a good buy out price for my note, and closed very quickly.
I own a mobile home park in upstate New York.
I got into some bad shape with the IRS and owed about $300.000.
My credit was not the best, so Mr. Harris provided a Hard Money Loan for 2 years for $750,000 until I rebuilt my credit and refinanced at a lower rate.
You have sold your business.
You didn't get all cash like you were hoping, but you did get a nice note secured by the assets of your business and a personal guarantee from the buyer and spouse.
Now, what are you going to do?
Do you have enough liquid cash for the down payment on a new business, to make investments or pay off personal debts?
Can you borrow and use your note as collateral?
Have you considered converting the note from the buyer to liquid cash?
If you are just starting to think about selling your business, and perhaps want to sell it the quickest and easiest way possible, offer to finance the purchase, and plan on selling the note after the closing.
You didn't get all cash like you were hoping, but you did get a nice note secured by the assets of your business and a personal guarantee from the buyer and spouse.
Now, what are you going to do?
Do you have enough liquid cash for the down payment on a new business, to make investments or pay off personal debts?
Can you borrow and use your note as collateral?
Have you considered converting the note from the buyer to liquid cash?
If you are just starting to think about selling your business, and perhaps want to sell it the quickest and easiest way possible, offer to finance the purchase, and plan on selling the note after the closing.
A copy of the closing statement when property was sold, showing disbursement of funds (HUD settlement statement, etc).
A copy of borrowers hazard (fire) insurance policy, naming the note holder as a loss payee or mortgagee, if available.
A copy of a Lenders title insurance policy, issued at the time of closing on the sale of the property (not a commitment), if available.
If this is a contract for deed or agreement for deed type of security instrument, we would like to have a copy of the actual warranty deeds, if available.
A copy of borrowers hazard (fire) insurance policy, naming the note holder as a loss payee or mortgagee, if available.
A copy of a Lenders title insurance policy, issued at the time of closing on the sale of the property (not a commitment), if available.
If this is a contract for deed or agreement for deed type of security instrument, we would like to have a copy of the actual warranty deeds, if available.
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