Definition of "Installment sales"

Vince Parente real estate agent
Vince Parente, Real Estate Agent RE/MAX FIRST

  1. A way to sell and finance property by which the seller keeps title but the buyer takes possession while installment payments are being made. The gain is taxed while the mortgage principal is collected.
  2. A sale of real estate involving periodic cash receipts. This is different from an immediate cash sale.
  3. Transaction with a predetermined contract price in which payments are made on an installment basis over a period of time.

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