My folks sold 3 farms on Contract for deed. 29% down was the norm, 30% or more down, the seller has to pay all capital gains the first year. Very common years ago. 29% down is incentive for the buyer to take care of the place and make the payments. Any improvements buyer makes to real estate belong to the seller if the buyer defaults. Buyer misses a payment, seller can foreclose in 30 days. If you write a 6% interest contract, where will you find a bank savings or CD that gives that return, plus you pay all the capital gains now, and have fewer dollars to invest.
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Today's Featured Article - On the Road with Dave Gohl: Deere Departed Friend - by Dave Gohl. Have you ever had to part with a dear friend? It's not easy. If it's due to death, your feelings could be in disarray for days, months or even years. Even now after almost 4 years, I still miss my dad. I remember when I was a kid my dad sometimes would tuck my brother and I in at night and we would ask him questions about his childhood on the farm. To this day, it's some of the best stories I've ever heard. And now, I'm so glad that I asked those questions, and if I were a little smarter i
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1965 International Harvester McCormick Farmall cub tractor 2,500. Two owner tractor. My grandfather bought new in 1966, then we inherited it. Have all the paperwork original manual and all maintenance records. It starts and moves. Comes with underbelly mower, plough, and some other attachments.
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