About
RealtyNoteBid.com allows investors to efficiently take advantage of today’s real estate home loan market.
With a record number of mortgages in default, the financial institutions holding these loans are very motivated to discount and sell out their position. RealtyNoteBid.com provides you information on each Note (and the property which secures the Note) so that you can acquire a Note just prior to the bank foreclosing the loan.
In essence, you are taking the Lender’s position just prior to the foreclosure sale, typically at a discount.
Once the foreclosure process is complete, you either:
- Take title to the property which secures the Note(if no one at the foreclosure sale bids more than your bid on this website)
- Receive the net proceeds above the amount of your bid amount that the foreclosure sales brings
For Example:
The original loan the Lender made was for $500,000.00 and the outstanding loan balance is $450,000. Let’s say you bid $225,000 on this website to acquire the Note from the bank (in essence you purchased the Note from the Lender at a 50% discount based upon what is owed).
The note then continues the foreclosure process and goes to a foreclosure sale within a very short period of time (as little as one week).
If you credit bid $450,000 and prevail at the foreclosure sale, then you get the title to the real estate.
Another Example:
Using the same set of facts as above, let’s say that you purchased the loan on our website for $225,000 but a third party bids $451,000 at the foreclosure sale ($1,000 more than your credit bid of $450,000). If the property sells for $451,000 at the foreclosure sale, you would be entitled to receive those proceeds up to the amount due under the Note or $450,000.
RealtyNoteBid.com is excited to be the first company to offer this type of sale to the public. The company was founded by veterans in the real estate industry, as well as those, in the online auction space. The online auction processing is provided by RealtyBid.com, the nation’s leader in online real estate auctions.
As a result of the turmoil in the residential real estate market today, RealtyNoteBid.com is working with many of today’s largest financial institutions and owner’s of non-performing loans to auction these Notes at a discount. The Note Owner’s do not want to take title to all of these properties and would prefer to sell their interest in the Notes as soon as possible. This change in strategy is a huge opportunity for home buyers and investors alike.
Good luck with your bidding!