Looking for a seller offering Home Land Contract? Look on the web! A land contract is a legally binding contract between seller and buyer– a seller allows the buyer to repay a home loan in installments while the buyer lives in the home. It’s an interesting way to buy a home– it eliminates the middleman (the bank) and allows the buyer and seller to make transactions between each other. I know of a few people who have purchased such home (the homes were usually damaged or in need of renovation), but these folks got incredible deals on the homes. There’s a good resource at HUD, too– see the resource overview on buying a home.
It’s not easy to find land contracts; it’s not like they are advertised very much. But the Internet has some great resources available to you- TheLandContract.com is one of them. You can search by location (zip code, city, state) and by price. The listings are usually very comprehensive– most have photos and very detailed information, such as extras, amenities, square footage, and etc. It’s a greta resource if you’re looking for a land contract. Plus, if you are like me and just want to keep tabs on the housing market in your area, it’s good to browse the listings. And if you are considering to offer a land contract for your home, check out the articles at the website for more information on how to go about it.
June 4, 2010
Internet, websites