by Alex Everest. A contract for deed (aka land contract) is a method of selling a property in which the seller finances some portion of the purchase price. The buyer typically provides a down payment and makes installment payments directly to the seller for an agreed period of time. The length of a contract for deed varies but a 2-5 year period is most common, after which a âballoon paymentâ for the remainder of the balance is due.
While standard units with tanks that hold and heat large amounts of water last approximately 13 years, tankless or on-demand heaters -- either gas or electrically heated -- can last up to 20 years.
A tankless water heater can last up to 20 years, sometimes even longer. Also called âon-demandâ water heaters, these appliances do not work continuously to maintain a supply of hot waterâand, as a result, they last longer than their tank-style counterparts.