Land Contract (as a form of rent-to-own)? - rent to own forms
Can someone explain what a land contract is it? In reply to advertise my house for rent to interested parties asking if I was interested in a land contract. THX!
Saturday, January 2, 2010
Rent To Own Forms Land Contract (as A Form Of Rent-to-own)?
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A land contract is usually when someone has bad credit or no credit risk is very good and can not qualify for a mortgage on their own. To try to summarize it easily: a country, the contract, if a person buys a house from a seller, even if the seller of the mortgage interest and property holds the title. The contracts of land must be properly registered, but many are not. In any case, the buyer and seller on a purchase price, fill out a purchase agreement and the buyer paid to the seller. Normally, a land contract, the possibility that the buyer gets their own financing within a specified period, such as annual, for example, 1, 2 or 3. This gives the buyer time to improve your credit so that they can get their own resources. See link below for more information on land contracts.
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