Four kinds of buyers: direct principal buyers (purchase for their own book with their own capital), loan-sale advisors (run a competitive process for a fee), auction platforms, and special servicers. For a single credit or small group, a direct principal buyer is usually the fastest, most certain, and most discreet exit.
| Buyer type | How they work | Best fit |
|---|---|---|
| Direct principal buyer | Buys the loan for its own balance sheet, all-cash; you deal with the decision-maker from first call to close. | Single credits / small groups; speed, certainty, discretion. |
| Loan-sale advisor | Markets the asset to a broad buyer list and runs a competitive process for a success fee. | Large or homogeneous portfolios where price-max justifies time + exposure. |
| Auction platform | Online marketplace exposing the asset to many registered bidders. | Granular, data-clean pools; comfort with public exposure. |
| Special servicer | Manages and resolves securitized (CMBS) loans on behalf of the trust. | Already-securitized credits — usually not a counterparty for a held loan. |
For a held, single CRE credit under $25 million, the practical choice is usually between a direct sale and a competitive process — a decision driven by how much you value speed, certainty, and discretion versus chasing the last few basis points.
Quantify the economics with the loan-sale-vs-foreclosure calculator.
Share a loan tape under NDA, receive an indication of interest with proof of funds, allow confirmatory diligence on documents you already hold, sign a purchase agreement, and close — assigning the loan for cash, typically in weeks with a direct principal buyer.
It varies — large advisors and funds chase big portfolios; many direct buyers focus on the middle market. Standing Bid Capital buys single credits and small portfolios from $250,000 to $25 million.
Yes — a direct principal buyer of CRE loans, discounted payoffs, and REO, all-cash, no re-trade, confidential. Request a confidential review.