Whenever we in the note business talk about you selling a property and carrying a note, we typically focus on 2 things: qualifying your buyer and agreeing to terms that are strong for you and encourage commitment from your buyer. Maybe we should add a 3rd – will your buyer be a good neighbor?
Think about it. If someone moves in next to you, what do you want in a new neighbor? Basically, you want someone like you. You want someone who is friendly, who you feel comfortable inviting into your home. You want someone who shows pride in taking care of his property. You want someone who will become rooted and invested – just like you are.
So, in the note business, when we carry a note, we have an opportunity to become a little altruistic and find a Good Neighbor to join the neighbors that are already there. And, for those folks to feel real good about us in finding and vetting their next Best Neighbor. When we find this kind of buyer, we are providing a service that helps make neighborhoods stronger.
