See the infographic below for a discussion of the Note Buying process.
PPR Note Purchase Process
Step 1: Indication of Interest: Buyer opens “Deal Request” indicating:
- Notes in which buyer is interested
- Available capital
Step 2: PPR Response: PPR responds to buyer within 72 hrs.confirming:
- Availability of note(s)
- BPO, credit, Note and Mortgage on note(s)
Step 3: Buyer Confirmation: Buyer responds through “Deal Request” to “Purchase Note” as soon as possible.
Notes will be sold on a first come, first serve basis. Confirmation includes:
- Intention to purchase note(s)
- Review and agreement to the terms of the PPR note sale contract (posted on PPR website in note sale section under ‘documents’)
- Ability and intention to fund within 3 business days from PPR response date.
- The data required to complete the contract, including:
- Formal name of the entity purchasing the note(s)
- Entity structure (i.e., LLC, Corporation)
- State in which registered
- Name and title of signatory
Step 4: Contract Execution: PPR drafts the note purchase agreement, and both parties sign prior to funding deadline.
Step 5: Funds wired to PPR
Step 6: PPR sends file collateral to Buyer