LAND CONTRACT FOR SALE: 9% FOR 30 YEARSFeatured
This is a great opportunity to buy a land contract with a 9% interest collateralized by a property that was sold for $365,000 in August of 2017 with $50,000 Down-Payment. Additionally, the purchaser has invested $100,000 on renovations and has been successfully making payments for 18 Months. This is NOT a non-performing note!
The reason for selling this contract is liquidity because my client has other deals on the table that he wants to invest in. We are reviewing all reasonable offers! The closest cross streets for the collateralized property are Nine Mile Rd. & Coolidge Hwy and is located in Oak Park.
Principal Balance: $311,697 (AS OF JAN 2019)
Interest Rate: 9%
Remaining Term: 28 Years 7 Months
Monthly Payments: $2,535.75
– Payments are made on the 1st of every month with a 10-Day grace period after which there is a $100 default penalty.
– There is no penalty for early payment of the principal balance.
For additional details about the land contract or the amortization schedule, you can contact Haroon Bhatti at 313-925-3333.