The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-06-19

i'm which are set down all the conditions
OF payment and otherwise under which
the property is purchased. An insurance
policy covering the period OF the trust
should accompany the package, n tax
certificate showing the payment OF all
obligations at the district building TO the
date of purchase and an insurance OF
the title from a title company.
According TO the cost OF tho property
the fees for all this should include the
premium on the fire insurance. the fee
for the insurance Of title. and the cost
of registration of papers. To this Is
sometimes added fee by the real estate
Office for drawing and executing the
papers. The commission TO the real
estate firm should be paid by the seller
OF the property, and not by the pur-
chaser.
Terms of the Purchase.
As TO terms of purchase n difference
VIII ensue according TO the cost of the
property, the amount OF the first pay
mcnt and the form in which the pur-
chaser elects TO make payments under
the trust The advantage OF having Il
substantial amount to pay down on the
property comes in here by way of Civ
ing the purchaser better chance TO die
tate terms, We viii suppose that q
house and lot worth $4,000 10 $4,000 is TO
be bought. II the purchaser has one
third OF the purchase price to pay down.
ana Is able to pay. say $500 to $1,000 an
nualiy upon the trust he can usually
elect 10 make monthly PAYMENTS quar-
Inc advantage OF the more frequent pay
men!s is TO stop interest as fast as pos
sibe
~ very frequent plan is for the DUR
chaser 10 pay a stipulated sum each
month, in which case the notes are so
Cr'lwn as TO cover either the interest on
inc whole trust for the month or for
the single payment 10 the time OF maxi
ing II. In the latter case interest on the
main trust would be paid seml-annually
on the amount due al the time of pay
ment
a common way of handling the deferred
payments on property is to obtain the
ioan on the property from building and
.,'1r .odn association, making payments on
principal and interest weekly or monthly
until the debt is discharged
May Divide the Trust
=, In cases where the original owner OF
the property or some financial institu-
lioll hotds the trusts. IL is usual to divide
ne ueicrreu payments into first and
second trust, for n term of about three
years This period is calculated so that
at its end the second trust shall be paid
up. leaving opportunity for Il renewal
o oyer a similar period for the discharge
OF the first trust, or which the interest
has been paid in semi annual INSTALL
ments for three years
Generally speaking, it is a wise pro-
ceedinS Tor n man with fairly perma-
nent position. even with small resources.
TO buy his home, Aside from the salts
faction OF owning a place OF abode, il is
an economical proposition. When the
property is once paid for the average man
earning n salary has the value of his
home to the good. Had he not bought IL
he would have paid as much in rent
which would represent nothing TO him
other than living expenses. Purchase of
The home is n means OF saving and the
accumulation OF little money in the way
OF investment which cannot be too
strongly commended. In six cases out OF
ten the man on salary never saves much
or even anything until he makes be-
ginning in the purchase OF home.
Real Estate Has Value.
Once paid for the home can be traded
dozen ways 10 form the basis of trans
actions which will enable the owner 10
invest and make money 1t frequently
happens that the purchaser OF home
buys another house and lets the renter
pay for it, a man with good business
foresight can easily increase his holding
in real estate without the possession of
much cash Instances are plenty In
Washington where men have made n
start with fear and trembling in young
manhood only TO find out the game was
an easy one and in middle life they were
drawing n good Income from their real
estate holdings.
Some others who have not bought dis
creetly or who have assumed bigger
financial burdens than they could bear
or who have been oVertakcn with mis-
fortune have lost money through their
real estate transactions, But under all
ordinary circumS Instances il may be set
down as a good business policy to buy
q home and TO increase ones holdings
of real estate as fast as possible