Now or later should sell a land contract agreement

[Ripmany]

The agreement was for 50% down on a 29k house just north of 8 mile. Should sell it for 11k or try to get the 14500 over 5 years. The buyer has not paid yet but it his realitors offering to buy it for 11k

[Ripmany]

I not vote on own poll thanks for voting

[MarcellusWalluz]

What kind of APR are we working with ?

[Ripmany]

4% if did read the title of poll sorry. 5 years

[TownCryer]

With the present administration which does not have a problem creating money out of nothing, a dollar now in worth a lot more than a dollar in the future. Just look at how much the value of the dollar has changed since 1971. Am ounce of gold was $35 to $45, now it is on a bad day $1844. What will it be in 2 years when an election is at stake. I would sell now and invest in something that will be easily sale able with little effort and not dependent on someone's else marketing.

If you do not have to live in the home, sell as you can take other investments and move anywhere, a house is not moveable and the local government can tax the hell out of it.

This is biased on history. No government has ever made gold/ silver illegal which China has done. Just my thoughts.

[JRLawrence]

This is biased on history. ? "No government has ever made gold/ silver illegal which China has done. Just my thoughts"

Based on history? Please look up what FDR did in the USA when he was president. The price of Gold in the USA was valued at $35 per troy oz. It was also illegal to own gold bullion, and most gold coins were turned in and melted down.

The good old ways of the Democrat party.

Got ya!

I really enjoy reading history. I understand reading is not done by many people.


This wound up in the wrong spot. Oh well,

[JRLawrence]

Originally Posted by Ripmany

The agreement was for 50% down on a 29k house just north of 8 mile. Should sell it for 11k or try to get the 14500 over 5 years. The buyer has not paid yet but it his realitors offering to buy it for 11k

This doesn't add up correctly.

The sale is $29,000 and you get half up front for money down or $14,500.

They still have to pay you $14,500 right now, not in the future.

WTF are you talking about

If they want you to carry the loan on the house for the remaining $14,500 over 5 years is will be with additional interest paid to you.

Not a good idea for you to carry the loan. That is the business of banks. I have seen it done, and I have seen it become a mess for the guy loaning the money. Get your cash up front, all $29,000 . You need a business lawyer to walk you through this stuff because the real estate agent is trying to screw you.

[Chung Tran]

Originally Posted by JRLawrence

This doesn't add up correctly.

The sale is $29,000 and you get half up front for money down or $14,500.

They still have to pay you $14,500 right now, not in the future.

WTF are you talking about

If they want you to carry the loan on the house for the remaining $14,500 over 5 years is will be with additional interest paid to you.

Not a good idea for you to carry the loan. That is the business of banks. I have seen it done, and I have seen it become a mess for the guy loaning the money. Get your cash up front, all $29,000 . You need a business lawyer to walk you through this stuff because the real estate agent is trying to screw you.

This is my reaction, assuming there's no hidden facts to uncover that was left out of the presentation.

With Ripmany, lack of clarity is a given.

[JRLawrence]

Originally Posted by Chung Tran

This is my reaction, assuming there's no hidden facts to uncover that was left out of the presentation.

With Ripmany, lack of clarity is a given.

Agree!