An 8-acre Ohio property sold for $60,000 with 20% down. Despite a lower interest rate on the note, the seller still collected $43,753 at closing — nearly 73% of the sale price.
The seller offered an 8-acre Ohio property at $60,000 with seller financing at a competitive 7.5% rate.
With a $48,000 note at 7.5% over 10 years, Damen Capital quoted $31,753 for the note.
Damen Capital purchased the note at closing and wired funds directly to the seller. The seller collected $43,753 total.
This note carried a 7.5% rate — lower than most land notes. The seller still collected 72.9% of the sale price at closing instead of spending a decade collecting $570/month. A lower rate means a lower purchase price, but the tradeoff is still worth it for sellers who want cash now.
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