Posted by Bob on November 18, 1998 at 22:46:35:
Thanks for the help. And thanks to all who made suggestions. The seller took back 78K on a 84K condo at 8.5%, interest only, 15 year balloon. I got all of the clauses in that you folks suggested, including this default clause and the clause that gives me right of first refusal on selling the paper to someone else.
Now all I have to do is find a good tenant