Full and Partial Sell Options
FULL PURCHASE: Seller receives lump sum cash for all remaining monthly payments (and balloon payment if applicable). This option provides the largest amount of cash, takes the seller out of the note completely, removes the hassle of collecting future payments, and transfers any risk of foreclosure to the buyer.
PARTIAL PURCHASE: Seller receives lump sum cash at closing for a portion of future monthly payments. Seller resumes collecting the remainder of monthly payments in the future.
PARTIAL BALLOON PURCHASE: (for balloon notes only). Seller receives lump sum cash at closing for all remaining monthly payments and a portion of the balloon amount. Seller gets the remainder of the balloon when received from payer.