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.
Here are some signs that you may be ready for a new hot water heater; AGE: On average, your gas hot water heater should last anywhere between 8 to 12 years, while an electric model will last a bit longer at 10 to 15 years. WATER: When you use your hot water tap, does the water look a bit tinted? If so, there may be rust in your water heater, which is a possible indicator your hot water heater is showing signs of wear and may start to leak.