You received an offer to purchase property that includes the following terms: sales price of $650,000, payable as follows: $50,000 at closing, and $200,000 payable one year after closing, two years after closing and three years afterward. Compute the effective sales price under these payment terms. Assume you are concerned with the buyer’s ability to make payments over time, what counter offer would you make that would eliminate concerns over payment terms. Assume $650,000 is the fair market value of the property.