Many note flipping infomercials will sell you on the ease of the business because they include all the paperwork you need. If you are wise, you will have a lawyer working for you because there is no such thing as a one-size-fits-all document. Since different states, cities, and counties have different laws regarding property, logic only dictates that the legal forms to process large property transactions will vary. When you need to close a deal, your legal document must be appropriate for that particular area in those particular circumstances.
This is why you need a lawyer working for you. One who can draw up the proper legal document for the situation as required. A good lawyer can not only draw up legally binding documents, but can file them with the appropriate destinations so the transaction can be finalized.
If you find a person with a note to sell, take down some basic information from them and determine the potential value of the note. Have your lawyer send the seller a contract stating they will not let anyone else sell the note until after you have had a try. Go to your pool of potential investors and see who is interested in buying the note, which is why you have the seller sign the contract so the buyer does not cut you out of the deal. Be sure you find more than one interested in case one falls through. When you have all the parties in place and an exact selling price has been fixed, contact your lawyer to draw up the contracts needed to send to all parties to finalize the deal and then to turn in all the contracts to where they need to be recorded.
It would be nice if I could tell you exactly which documents you need to collect, but that would be less than honest. It depends on the transaction taking place and where it is taking place. Since laws change and documents change, you need a lawyer to handle the paperwork if you want it done correctly.
