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Land Contracts - http://www.dealmakerscafe.com Forums

Original message

Vlad

"Land Contracts" , Mon 16 Oct 11:48

When using Land Contracts would I normally give the seller a note & mortgage or just a note? I've read in one course where the seller just gets a Land Contract. Any thoughts would be appreciated. - Vlad

Replies:

lynnhahn
Moderator

"Re(1):Land Contracts" , Mon 16 Oct 12:06

You can't give a mortage on the property because it is still titled in the sellers name.

You should however, get the seller to give you a "Performance Mortgage" which protects your interest in the land contract.

Lynn

Those who say it can't be done are usually interrupted by others doing it!