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Is this a good contract deal?

Here’s the deal I struck with a contract buyer:
Purchased 2024 at $370,000
Owe: $288,400

Paid out to me this month: $32,500
October 2027: $5000
October 2028: $5000
October 2029: $5000

He pays all the closing fees.
Legal clause in contract: If he misses 3 payments in a 12-month period, the house and deed go back into the name. He wont because he owns like over 75 houses. He pays my legal fees too.

I have it listed with a realtor right now with no showings in two weeks. The market is rough right now selling in Iowa, and it’s only getting colder. If I sell it at $350k I’m basically making the same amount of money after realtor commissions. I’m still considering it because I have about $40k in debt I want to pay off.

submitted by /u/TCPisSynSynAckAck
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1x5czng/is_this_a_good_contract_deal/
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