The buyer/borrower began a lease option on January 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 $235,000.
| Description | Amount/Detail |
| Original Sales Price | $225,000 |
| Down Payment | $45,000 |
| Original Amount Financed | $180,000 |
| Terms and Monthly Payments | 20 years with 9.5% interest rate / $1,657.57 monthly payments + taxes and insurance |
| Current Balance of Note | $177,825.74 |
| Payments for Sale | 1-240 |
| Estimated Value of Collateral | $235,000 |
| Property Address | 394 N Green River Rd, Gaffney, SC 29341 |
| Buyer Information | Carlos Augusto Menchu Cocinero and Jenifer B Castillo |
| Buyer’s Occupation | Self-employed |
| Buyer’s Repair Cost | $20,000 |
| Buyer’s Time in Property | 1 year and 7 months |