|
Kirksville, Mo | Been trying to buy the Neighbors 80 of pasture, the deal we have reached is I put down 20%, and he carries me 10 years. We both have not done any of these transactions. Of course this is beneficial to him for tax reasons, and I for interest reasons. I am going to my lawyer tomorrow to have a contract drawn up. My questions are
1) Any Terms you would want in contract if it was you doing the deal
2) title and deed what to expect
3) Interest, since this is Mutually Beneficial deal, should I be expected me to pay interest to him
4) Of course I don't ever expect to be late on a payment, or be short, any kind of deal could you have to protect the equity you have in the farm.
5) Any other suggestions
Thanks | |
|
Seller Financed Ground
