Vote To Buy The Building: Difference between revisions
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''A summary or outline of the vote language can be included here.'' | ''A summary or outline of the vote language can be included here.'' | ||
The asking price is $1,300,000. Currently we've negotiated to $1,250,000. Our landlord has offered to owner-finance for the first 5 years. We will pay a 20% down payment in 2026, then make 5 years of mortgage payments, then make a balloon payment of the remaining balance. We will need to secure a commercial loan to make that balloon payment. | The asking price is $1,300,000. Currently we've negotiated to $1,250,000. Our landlord has offered to owner-finance for the first 5 years. We will pay a 20% down payment in 2026, then make 5 years of mortgage payments, then make a balloon payment of the remaining balance. We will need to secure a commercial loan to make that balloon payment. The mortgage payments will be approximately $8,500 per month. We will also be responsible for our property taxes, which are currently around $30,000 per year. | ||
== Language of the Vote == | == Language of the Vote == | ||
