Professional Record Keeping
Timberland Bank Note Servicing offers a wide range of services to sellers and buyers involved in private contracts that are secured by real estate, personal assets, or unsecured.
Our Note Servicing team will accept and record all payments made on the contract, report the interest paid to the IRS and provide annual tax statements to both parties on the contract. When applicable, our system can also remind the buyer of a late payment and assess and track late charges.
In addition to professional record keeping, we also provide:
- Timely Notification: Each time a payment is received on the account, a notice is mailed to the seller showing the date, amount paid and disbursements.
- Reserve Accounts: Timberland Note Servicing can set up reserves to pay hazard insurance, flood insurance, property taxes or other required disbursements.
- Disbursements: The seller may choose to receive payments as a deposit to a Timberland savings, checking, or loan account. We can also mail a check or send ACH disbursements as requested. The monthly fee is based on how the seller receives distributions.
- Competitive Fee Schedule: Timberland Note Servicing features a one-time set up fee of $175.00 ($275 with reserves).
- Friendly and Local Customer Service: Timberland Note Servicing is at your service Monday through Friday from 8:30 AM to 5:00 PM. To reach our Note Servicing team directly, please call (360) 533-4747 and ask for the "Note Servicing" or "Contract Collections" department.