Montana Land and Cabins

This 3 bedroom, two bath, double wide, mobile home may be your perfect solution for a second home. The house sits on 0.45 acres with 60 feet of Kootenai River frontage. City utilities serve the property and high speed Internet service is also available. The home has been partially remodeled with new flooring throughout and new kitchen appliances.

A large garage and storage shed provide a great spot for your boat, lawn equipment and other “boy toys” to be kept secure and dry throughout the four seasons. The parcel is fenced on two sides and has a fenced observation deck which overlooks the river.

Nearby Roosevelt Park offers a perfect playground with its walking trails, children’s fishing pond, ball fields, and live-music pavilion. A paved boat ramp at the park permits you to launch your boat, then enjoy miles of prime fishing and sightseeing up and down the Kootenai River.

National Forest land begins at the river with direct access just across historic Roosevelt Bridge.

* The asking price assumes a transaction can be consummated between the Buyer and Seller without the services of a real estate agent. If a real estate agent is required by the Buyer, the asking price must be increased by 6% to cover sales commissions, unless the agent is willing to accept a lower commission.

Terms:
1. Seller would require a minimum of 10% down.
2. Note would be amortized for 30 years with a 3 year balloon/stop.
3. Interest rate would be 2.5% over Wall Street Journal prime rate, adjusted annually.
4. No pre-payment penalty.
5. Some restrictions apply until note is paid in full.*

Financing example:

Purchase price:	$169,000
Less 10% down:	-$ 16,900
Loan amount:	$152,100

Interest rate: WSJ Prime Rate as of 12-16-2008 = 3.25%.
3.25%+ 2.5% = 5.75%

Monthly loan payment = $793.42
Plus property taxes (2008) = $20.08 per month,
Plus fire insurance = $27 per month
Total monthly cost = $793.42 + $20.08 + 27 = $840.50

Note: Example is for illustration only. Actual figures may vary slightly depending upon tax rates, insurance, and closing costs attributable to Buyer. Also, a larger down payment would reduce the monthly payment.

* During the time Seller holds the note, Seller would require the Buyer to get written pre-approval from Seller of any substantial change they may wish to make to the property. This approval would not be unreasonably withheld. Seller wishes to assure that if Seller should have to take the property back, there would be no problems with the property which Seller would have to address. For example, if the Buyer wanted to add a structure to the property, Seller would want to be sure it met code. Or if the Buyer wanted to remove trees, that in doing such work, it would not diminish the value of the property. Obviously, once Seller is paid off the Buyer would be free to do whatever they wish to the property.