Owner financing is available with 25% down in cash or exchange value. Payments may be amortized monthly or annually. If amortized over greater than 5 years, a full payoff balloon payment is required at 5 years. No pre-payment penalty. Interest rate = 6%.
Seller is open to 1031 tax deferred exchange or non-1031 exchange for other real property. Exchange properties with debt must be structured as non-recourse. Exchange properties will be titled directly to JEN with JEN compensating H&N.
Seller’s personal considerations:
Seller owns about a dozen properties. If a prospective purchaser wanted to buy all or almost all of Seller’s real properties, a substantial discount would be offered. An even greater discount might be available if someone chose to completely cash out Seller of all his real properties, motor-sailor and other significant personal property such that Seller’s personal quest to open a new type of monastery might come to fruition.
Real Estate Brokers:
I am no longer a Real Estate Broker. I appreciate Real Estate Brokers and welcome their help if a Purchaser wants to be represented in buying or exchanging for any of my properties. In fact, I generally prefer it. I may even list some or all of these properties in the future.
Private notes for JN:
2019 Real Estate to SELL — updated 09/14/2019
File to to assemble info on each JEN property in anticipation of listing or selling FSBO.
Some info is private and some to disseminate to Realtors &/or potential purchasers.
Format simple to facilitate future uploading to jimmynorman.com/RealEstate
Properties are sorted by numbers assigned somewhat arbitrarily from 1 to 12.
May renumber to sort by value or by eagerness to sell or by location or ?
For each property find & digitize:
Lot renderings with foundation outlines
Listing details: schools, utilities, demographics
Additional properties to consider for sale or trade:
Note & Deed to Secure Debt on Alaska lots already sold but in default
Necklace &/or Ring
Trailer & RE share
Furniture & other Miscellaneous Personal Property
Sabbatical – Nauticat 44 Motor-sailor