Real Estate Land Contract
Land contracts are Seller-financed alternatives to traditional mortgages, and they're often used when buyers are unable or unwilling to get a mortgage through a bank. They can also be a good option for those who don't qualify for a conventional mortgage due to their credit situation or other factors.
With a land contract, you'll enter into an agreement with the seller to finance the purchase of the property over time. The terms of the contract will outline the purchase price, down payment, interest rate, and repayment schedule.
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