For sale is an 1883 HANDWRITTEN BUSINESS LETTER from Mr. Thomas Wood, 322 East 120th Street, New York City. The letter is an offer to provide $2,000 for a mortgage condition upon a successful property inspection. The mortgage rate was 4 percent. Other than the fact that a home would only cost $2,000, the content demonstrates just how little real estate practices have changed through the centuries. The letter is in good condition with a tear at the fold. The letter when folded measures 8 1/2 inches by 5 1/4 inches. An interesting ephemera collectible for anyone interested in New York City history or real estate.
Letter content is as follows:
“Oct 30th, 1883 — Dear Sir, I can lend the $2000 for 16 years at 4 percent interest per annum by the way of mortgage. You having the option of paying before by giving 6 months notice and interest due up to that date. It will be necessary I should have the property inspected by someone I can trust. The expense of which you will have to pay. Upon receipt of a sufficient sum for this purpose or having forfeits will send gentleman to inspect property and if it is as you state and he advises the advance to be made. You will have to pay him $15 per day for his time in making two days journey but if it is not satisfactory you need only to pay his travelling expenses. I made no charges and I’ve seen from (illegible) to one. Yours Truly, T. Wood”
