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    Harrymac's Avatar
    Harrymac Posts: 1, Reputation: 1
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    #1

    Feb 3, 2007, 10:18 AM
    I am selling a small building on land contract how do I figure the amount due at 10% interest

    Thank You Barbara Campbell [email protected]
    landlord advocate's Avatar
    landlord advocate Posts: 283, Reputation: 36
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    #2

    Feb 7, 2007, 12:01 PM
    Are you sure that is what you want to do? A lease option would be much better.

    If the individual fails to pay you, you will have to act just the same as a bank and file a foreclosure. This is going to require a lawyer and lots of money and time.

    Think about a lease option. Money will come in every month. If the business fails or the person fails to pay it will revert back to you with no strings attached and no lawyer. Think about it.

    Are you looking for a simple or compound interest formula?
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