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.
Hot water heaters can last anywhere from 8-12 years, depending on their make and features. No matter what kind of water heater you own, our water heater installation experts recommend draining 2-5 gallons of water every one to three years to extend the life of your tank.