Promissory Note for Sale - Less than 50% Home Value
By Aaron Silverman, Improving Real Estate Experience through Education
(SuccessfulRental.com, Bluewater Property Management, LLC and Lowcountry Turnkey Properties, LLC)
I am selling a note for a single family home in Florence, South Carolina. The note details are at www.ss-investments.net/florencenote.pdf. The property was sold in February 2013 for $25,000. The buyer put $3,500 down and received a note for $21,500 at 8% per annum for 10 years. The property value is approximately $58,000. The note is less than 50% of the value. To date, the buyer has made one payment. If your seasoning period is longer than one month and may be interested, let me know what it is and give a tentative offer. If the tentative offer is acceptable, we will wait for the seasoning period to elapse. Please let me know if you have any questions or would like to submit an offer. Aaron
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