central - east central Minnesota - | devlin - 12/19/2013 15:54 Can the owner ask for a certain amount in payment say it is $45,000.00 a year? over 15 years with a balloon in 10 years of say $200,000.00 over and above the payment scedule does this work? SImple answer to your question - Yes . . . . . Be darned sure to include the abality to perpay at any time . . . . If, for example, you make pymts of 45k each of the 10 yrs, and the 200k pymt, if you don't have the 200k, you'll have to go to a bank or someone with the funds to borrow against the land - they likely will want first posisiton - so they'll want to pay off the contract . .. Food for thought - |
Another contract for Dead???
