Posted by Mike (WA) on March 06, 2010 at 09:03:57 from (69.10.196.7):
In Reply to: Re: land contract or cash posted by John T Country Lawyer on March 05, 2010 at 17:06:20:
$300,000 sale, 6% interest on a contract, 30 years= $1,798 per month.
$300,000 sale for cash, invest in T bills at 1%, 30 year= $964 per month.
Difference is $834 per month.
Buyer won't pay? I do contract forfeitures all the time, and the cost is about $1,200, takes 90 days. So if buyer makes only 2 payments, you're still money to the good- and you can keep his down payment, and sell the property again.
Never have been able to understand why real estate contracts get such a bad rap. What am I missing?
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