If
you are searching the option of selling a land contract and would
like to find a contract buyer to do business. You should need to
speak with trustworthy Land Contract Buyer
who is expert in such job. They are providing this as a service to
people considering the sale of their land contract, with owner
financing, creating a land contract, servicing the contract expenses,
evaluating the possible sale of a land contract and ultimate final
payoff.
Buying
real estate property such as a house, a piece of land, an apartment
building or commercial building through a land contract is
comparatively easy & simple. A land contract allows a buyer who
is not able to secure conventional financing to buy real estate.
Why Are Land Contracts Being Hired?
A
land contract is a written legal agreement or document of contract
used to purchase real estate property. A land contract is similar to
a mortgage note, but rather than borrowing money from a bank or lender to
buy property, the buyer makes payments to the real estate holder or
seller, until the purchase price is paid in full. The buyer and
seller both sign the land contract covering agreed upon terms and
conditions of the sale and work mutually to negotiate an interest
rate at the time of land purchase. Usually, seller carries the loan
for a fixed number of years, at which time a balloon sum is unpaid.
A
land contract is beneficial to both buyer and seller, as other types
of seller financing.
Benefits
to Buyers - A
buyer may be interested in the real estate for sale but because of
the credit history or other reasons, who cannot obtain approval for a
needed mortgage. The other parties can enter into a sale of property
by land contract so that the buyer can make monthly payments directly
to the seller.
Benefits
to Sellers - The
seller may have more options for potential buyers, especially in
a market downfall. A seller does not receive the complete
purchase price in advance, like the seller would if the buyer used a
mortgage or paid all cash. Also, seller may be able to bargain a
higher purchase price on the property by offering a sale by land
contract. Seller may also demand and receive a big amount of cash
down payment.
Land
Contract Buyer
has been helping people sell their land contracts and contracts for
deed.
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