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Updated almost 4 years ago,

Slade S.'s profile image
Slade S.'s profile image
Slade S.
  • Rental Property Investor
  • Member since Mar 2, 2021
Connect

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46
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5
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Slade S.'s profile image
Slade S.'s profile image
Slade S.
  • Rental Property Investor
  • Member since Mar 2, 2021
Connect
Slade S.
  • Rental Property Investor
5
Votes |
46
Posts
Buying & Selling Real Estate

How to OWC with terms

Slade S.
  • Rental Property Investor
Posted

I have a property I would like to sell for $8000. I would like carry the note with $3500 down and the rest as monthly payments with interest. 

I have sold a property before but never with interest, so I have a few questions.

How do I come up with a fair interest rate?

I plan to use a purchase agreement with a promissory note. How do I word the monthly interest payments?

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