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.
Replacing your water heater with a new one will help you decrease your energy or gas bill with new technology. Typically, water heaters should last between 10-15 years and as long as you perform regular maintenance on it, it should last a good amount of time.est Answer: AO Smith makes a good heater, but I'd start planning a replacement. 14 years is a pretty long time for a heater to last.