The buyer/borrower began a lease option on June 30, 2023 and has made all payments on-time. We are now converting to a long term seller-financed contract for deed/bond for title. The deed may be transferred if the note buyer prefers.
The buyer/borrower has done a complete rehab to the property increasing the collateral considerably. The estimated value of the collateral is $160,000. See pictures and details below.
| Description | Amount/Detail |
| Original Sales Price | $115,000 |
| Down Payment | $15,000 |
| Original Amount Financed | $100,000 |
| Terms and Monthly Payments | 10 years with 9.75% interest rate / $1,285.38 monthly payments + taxes and insurance |
| Current Balance of Note | $98,292.80 |
| Payments for Sale | 1-120 |
| Estimated Value of Collateral | $160,000 |
| Property Address | 308 Westview Blvd, Spartanburg, SC 29306 |
| Buyer Information | Alberto Zarco Islas |
| Buyer’s Occupation | General Manager |
| Buyer’s Repair Cost | $40,000 |
| Buyer’s Time in Property | 1 year and 1 month |