FINANCING TERMS
Some lots are available
for seller financing.
Terms for seller
financing:
Lot down payment is 30%
of the purchase price. The balance may be
financed over 3, 5 or 7 years at 12% interest. No credit
checks.
Here is an example of the monthly
payments for seller financing. These examples assume $5,442
down on a $18,150 purchase
price.
3 Years:
$421.82 /month (plus real estate tax escrow approx.
$50/mo)
5 Years: $282.50 /month (plus
real estate tax escrow approx. $50/mo)
7 Years: $224.19 /month (plus
real estate tax escrow approx.
$50/mo)
No
prepayment penalties. You can prepay the loan at any
time.
This transaction is a Land
Contract (also known as a "Contract for Deed"). Upon purchase
the buyer and seller will enter into a legal Land Contract
giving the buyer immediate legal rights to and access to the
property. The seller retains the deed. Once the purchaser
completes the payments to the seller, the seller then transfers
the deed to the purchaser. The purchaser will receive a Deed
fully registered with Charlotte
County. Buyer to
pay a $295 closing fee. This can be added to the loan.
This fee will also cover the cost of issuing a fully
executed Deed when the lot is paid in
full.
| 
