The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

REAL ESTATE Selling on Land Contract?

Remove ads while supporting the Unscripted philosophy...become an INSIDER.

Ausable

New Contributor
Nov 12, 2007
18
3
10
Des Moines
Now that credit markets have tightened up. It would seem like a good time to start selling SFH's on land contract, instead of outright with the buyer using conventional mortgage financing (which they might not be able to get).
I know a bit about the general details of selling on land contract, from talking with my lawyer. So I was wondering if anyone around here has some experience/insight on selling by land contract.

Thanks
 

Don't like ads? Remove them while supporting the forum. Subscribe.

hakrjak

Bronze Contributor
Read Millionaire Fastlane
Sep 15, 2007
1,978
142
88
Colorado Springs
I sold my 80 acre Wyoming Ranch on a land contract. It's great for me as the seller, because if my buyer ever misses payments, etc -- I can just void the contract and sell it to someone else. Almost zero risk on a raw land deal, but with an SFH your risk would be that you have to repo the home and it's been trashed, or gutted, etc. Your mortgage company may require that you maintain insurance in your name, since you'll still be the person named on the loan. Little things like that have to be worked out when dealing with an SFR, but on a land deal it's pretty straight forward.

Cheers,

- Carl
 

Sponsored Offers

  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Hey @Lex DeVille ! Having some issues with the NOREGRETS code? Udemy thinks it has expired...
  • Sticky
MARKETPLACE Fox Web School "Legend" Group Coaching Program 2020
@Fox Hi, I learned to code over the last few months, I am not the best but I am getting there, I...
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Are you looking for a new, lesser-known but potentially very lucrative source of leads to your...
  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
I read it yesterday, looks like a nice introduction for reading TFM or Unscripted. ; ) Also...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Thanks for the reply. Whats interesting is that I have an idea that's been cooking which...



Forum Sponsor

sponsor

New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom