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| If it were ground next to mine, we would figure out a deal if the seller wants a contract sale.
I would want a variable rate deal over a locked contract rate right now, but I somewhat doubt the seller would as the market is pricing lower rates ahead.
My number 1 preference would still be the same deal you get at a bank honestly... a fixed rate loan, that I may pay ahead on at anytime without penalty or refinance to a lower rate at anytime if rates go down (assuming my credit worthiness is still acceptable).
I agree this may be a more attractive deal to a young guy needing more help. Overall if the buyer is sacrificing options, then I think the seller may need to sacrifice a bit, probably on price. At least for me to be interested anyway. Also, if I don't have the deed, I can't use this ground as collateral down the road until seller is paid in full. | |
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Quit bringing up high rents
