Guide To Sell Home Under Land Contract
The land contract refers to an agreement where the owner of the property which may be building or land generally finances the sale of the property instead of selling it through a third party. In this contract, the buyer is made to pay for the property in installments and he is not considered to be the owner of the property until and unless the last installment is paid. This kind of contract generally happens when there is a lack of finances with the buyer who cannot hire a third in this procedure. Land contracts in Michigan are generally carried in this way. The entire risk of the buyer is taken by the seller instead of the third party in this case. Certain things should be considered while selling homes under land contract. The details of the contract should be given in the initial section of the contract only. Streets addresses should be avoided as they tend to change instead addresses given by the governments should be used as they are mostly permanent. Plot numbers, bon