Posts Tagged ‘Promissory Note to Pay Debt’
Weighing Options for Seller with Carryback Loan on Land
Question: In one of your columns a buyer had purchased forty acres of land in northern Arizona (“Forty Acres”) with financing for the purchase of this Forty Acres by a seller-carryback $200,000 five-year mortgage loan. After five years, however, there had been none of the anticipated development in the area, and the Forty Acres was…
Read MorePromissory Note to Pay Debt with no Date for Payment
Question: I am a licensed home inspector. On a rainy day this summer, I did a home inspection on a home in Chandler for the buyers. I noticed some standing water in the backyard next to the guest house which I thought was due to rain fall. Three days after the buyers moved into the home,…
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