Mortgages

 



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EXAMPLE NO. 3

This involves the sale of a lake front lot with electricity, telephone, and year-around road, that sold for $25,000 with $5,000 down. The balance of the purchase price is a Seller Financed deed of trust for $20,000, payable at $264.30 per month.

Several options available to the Seller are:

Option 3A: Sell 65 payments for $10,000 cash now. With the $5,000 down payment, that's $15,000 cash now. In addition, when the note is reassigned to the Seller in 65 months, it will have 55 payments remaining and will have an approximate balance of $11,620. Thus the combination of cash now future value total $26,620.

Option 3B: Sell for $19,000, payable as $9,500 now and an additional $9,500 in 60 months. With the down payment of $5,000, that's $14,500 cash now, plus $9,500 in 60 months, for a total of $24,000.

Option 3C: Sell the entire note for $14,100 cash now. With the $5,000 down payment, that's $19,100 cash now.

EXAMPLE NO. 1 cash EXAMPLE NO. 2 cash EXAMPLE NO. 3

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