When Carrying Real Estate paper insist on property insurance

insurance or no insurance at all would be very difficult to sell on the secondary market. Expect to take a deep discount if a seller is willing to purchase without insurance. This is why it is so important to have a note professional on board to verify each element and protect the structure of the note and the creator.

Story: The Texas Note Company recently assisted a customer with the sale of an owner financed note in Pflugerville Texas. A mobile home note with land. The note had a face value of K with a balance just over K. We were able to give her a full purchase offer for the note which she accepted. She provided us with all the necessary documents we needed for the sale of her note.
Deed of Trust
Note Document
Warranty Deed
Settlement Statement
Property Insurance
Social Security Numbers of the payor
Payment History with Bank Deposit slips
Pictures of the property
(Just a little note: If you are considering selling your note or want a note quote we will need these documents t)

Upon reviewing all the documents it was determined the the property insurance policy was only for ,000.. This was an issue because if the home burned down or was destroyed the home owners policy would have not been able to replace/rebuild their home with just ,000.