Tags:
Property Information
Property State: FL
Property City: ocala (marion county)
Property Type: Land
Owner Occupied: N
Date of Sale: 2008-06-30
Sales Price: $260000.00
Property Value: $260000.00
Property Value Established By: Sale
Any Other Liens?: N
Down Payment: $100000.00
Loan to Value: 61.53
Note Information
Position of Note: 1st
Original Amount: $160000.00
Note Balance: $160000.00
Interest Rate: 6%
Payment Amount: $800 MONTHLY INTEREST
Date of 1st Payment: ACCRUING MONTHLY
Payments Made: Annually
Original Length: 48 months
No. of Payments Made: na
No. of Payments Remaining: 25
Day of the Month Payments Due: na
Are the Payments on Time: na
Balloon Payment Amount: $160000.00
Balloon Payment Due Date: 2012-08-01
Other Information
Payors Credit: 700 Above
What Does the Payor Do For a Living: unknown
. THE DETAILS ARE AS FOLLOWS: 1. THIS IS A 4 YEAR BALLOON INTEREST ONLY NOTE, THAT BALLOONS ON 8/1/2012 FOR THE FULL AMOUNT PLUS ACCRUED INTEREST for 2 years as mentioned below.... The accrued interest that will be collected will start on 7/1/2010 to 8/1/2012 and due on 8/1/2012. So at the end of the tern the total amount due will be $179200.00 2.
For the FIRST 2 YEARS (sale date 6/30/08) No payments were made and no interest accrued as this was the agreement per the Note. When I asked the Note Seller why this was done, he stated this is just how they structured the deal. Perhaps it is more because a large deposit was made.
3. There are 3 owners involved, one is an individual and his partners are a married couple. They are holding the land for investment purposes. 4. This is owner financed and the previous owner had the property for 3 years prior to selling it.
PROPERTY INFO 2.6 acres Zoned R-1, on city maintained paved road street with city water and sewer. The land has been leveled and is ready to be built on. This land is surrounded by 2 subdivisons and as per Anthony who is familiar wit the property in the County appraiser\\\'s office, \\\"the property is in one of the most desired and nicest areas of Ocala.\\\" Also per Anthony, the houses in the area are very nice. AS mentioned the owners are holding the land for investment purposes and though it is not currently for sale a builder had been talking to the owners about dividing it up into 8 lots ( max allowed by the county for this lot) for future home sites. The property is in a high demand area and people are always calling to see if the owners would sell it.
