Land Contract
I want to make sure i know how to fill out the form
purch price for buyer 110k
earnest dep 1k
balance of down due 9k ( bc asking for 10 k down)
Balance of purch price 100k
questions ...does this look right and How much is normally given by buyers as earnest deposit, secondly . If their payments are 1k per mnth.. at say 8%... with balloon in 24mnths does the loan servicing company figure out how it amortizes at the end of that time since the 1k includes PITI.... and figure out how much is needed for buyer to get loan for. thanks
anyone... Bueler?
Let me know if you would rather sell this land contract for a cash lump sum now, rather than waiting for payments over time, assuming you closed this deal.
My very best, Dave