SELLER FINANCING! BEGIN WITH A SMALL DOWN PAYMENT AND OWN
THIS GREAT HOME!
YOU ARE BIDDING ON THE
DOWN PAYMENT
After the down payment, there
would be a $325 per month payment to be made each month for 15 years.
GREAT CASH FLOW PROPERTY!
RENT OUT AND MAKE A STEADY PROFIT!
Pay way below market value to move in right away!
OR
Flip the house for a quick profit or rent out for a
stable source of income!
MARKET RENT FOR A SINGLE
FAMILY HOME IN THIS NEIGHBORHOOD IS $450 – $700. The total assessed value of this property is $46,300.
After 15 years, the house is completely paid for. $325 per month at 10% interest for 15 years calculates to $30243.67.
The $325 per month includes principle and interest. Property taxes and
home owner’s insurance to be paid separately.
The
purchase starts as a land contract, and after 6 months of on-time payment
and when taxes are paid back in full, the deed for the property will be
placed in your name.
This single family home is a 2 bedroom, 1 bathroom property, with a nice garage.
This property's bath and kitchen in fair condition. There is no air conditioning, but has a working furnace. The ceilings are in fair condition, but there is a bit of peeling paint on the walls. It has a basement with some water damage. The neighborhood does not have any vacant houses, and they are are fairly clean.
This property does need some
repairs and regarding the condition of the house, it is being sold “as-is”,
“where-is”. The pictures of the home were taken this summer. Buyer
would also be responsible for back water and back taxes. Our records indicate
that the taxes for this property are current. However, we always
recommend that you confirm these details with the county before purchasing. The
listing price of the house is adjusted in regards to the amount of back taxes
and water.
If you are a serious buyer
and would like to inspect the property, please feel free to contact me. I have
limited knowledge of the cost of repairs or state of specific items (carpet,
painting), so it is recommended that you do visit the property to assess
repairs. Showings are available by request!
Terms:
The down payment
is due within 24 hours of the auction closing. We accept paypal, wire transfer,
or cashiers check.
Upon receiving
the deposit we will overnight a land contract to be signed and notarized and
sent back to us. The following day I will sign and notarize the contract and
you take possession of the house. After 6 months of on-time monthly payments of
$325, the deed is transferred to your name.
All bidders with
a score of 4 or lower must contact me before bidding. BIDDER MUST HAVE A
MINIMUM CREDIT SCORE OF 500 AND A NET INCOME OF $1200 PER MONTH TO QUALIFY.
Exceptions can be made on a case-by-case basis.
I reserve the
right to deny any bidders that do not meet the above criteria.
For further
information, please contact me preferably by seller message or
at tgray@stoncrest.net.
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