A 6-acre South Carolina property with a mobile home on the lot sold for $44,000. The seller sold the note to Damen Capital at closing and collected $39,000 — 88.6% of the sale price.
The seller listed a 6-acre South Carolina property at $44,000 with seller financing. A mobile home happened to be on the lot, adding value for the buyer.
With a $33,243 note at 11% over 54 months, Damen Capital quoted $30,000 for the note.
Damen Capital purchased the note at closing and wired funds directly to the seller. Total cash collected: $39,000.
The 54-month term on this note meant less time value of money working against the seller. Combined with a reasonable rate and solid property, the seller collected 88.6% of the sale price at closing — one of the highest percentages in our portfolio.
Buying or selling land in the state? See our full South Carolina acreage financing and note buying page for rates, county coverage, and what to know about attorney closings, rollback taxes, and heirs property.
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