Sell real estate under contract

You can make profit off your real estate can be purchased under a land contract, also called. Upload and sell templates now, it's free and dead-simple.

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FAQ

Who holds the title in a land contract?

Under a land contract, the seller retains the legal title to the property, while permitting the buyer to take possession of it for most purposes other than legal ownership.

Is a land contract a purchase money mortgage?

A land contract is a form of seller financing. It is similar to a mortgage, but rather than borrowing money from a lender or bank to buy real estate, the buyer makes payments to the real estate owner, or seller, until the purchase price is paid in full.

Is land contract the same as rent to own?

The big difference between a rent-to-own arrangement and a land contract is that the seller maintains control of and responsibility for the property in a lease deal. ... On a land contract, the buyer is responsible for property taxes, insurance and mortgage interest, although these will usually be paid through the seller.

When the borrower retains both equitable and legal title to the property the following is true?

In one state, a mortgagee holds a lien on real property offered as collateral for a loan. The mortgagor retains both legal and equitable title to real property. If the borrower defaults on the loan, the lender must go through formal foreclosure proceedings to recover the debt.

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