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 - My Ford Golden Jubilee - by Troy Estes. This article is about my '53 Ford Jubilee and a story that starts with taking the tractor to my brother's Starter/Alternator Rebuilding shop for a wiring fix. The generator was shot as well as all the wiring. I dropped off the tractor expecting a transformation from a 6 volt to a 12 volt system utilizing the original generator housing, and a total rewiring of the whole tractor. The front end center pin bushing was worn also so I ask that they replace it if they had time. Well, that’s wha
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1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
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