Question by maryannmccarthy2003 | Posted in Renting & Real Estate
We have a seller that is willing to take zero down on a 30 year land contract. The property is 30 acres (2 15 acre parcel's), 1 parcel has a mobile home and a pole barn and the other parcel has no buildings. The total sales price is $164,800.00 and the monthly payment would be $1450.00 a month which included property taxes ($1800.00 a year), home owners insurance ($700.00 a year) and interest of 8.5%. If we can convince the seller to take lets say $800.00 a month with a 30 year balloon, what would
Answer: The payment would be approximately $87,800.00 after 30 years.
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