CATEGORY: Land Contract Questions

Answers to Frequently Asked Land Contract Questions

Can a Land Contract Buyer Compel a Seller to Make Mortgage Payments?

If a Seller in a Land Contract does not fully own the property under contract, often a mortgage is involved through a third party lender. And if that Seller doesn’t make the required mortgage payments to the lender even though the Land Contract Buyer is paying the Seller, it can put the property in financial jeopardy.

But the Land Contract Buyer does have some options to overcome this situation. Continue reading Can a Land Contract Buyer Compel a Seller to Make Mortgage Payments?

What Documents Seller-Finance a Mobile Home Property Sale?

Most states treat a mobile home as personal property, not real estate. The land must be treated separately from the mobile home itself.

Given that, to sell a mobile home using seller-financing, two different documents must be prepared to handle the two sides of such a transaction: a Personal Property Lease for the mobile home, and a Land Contract for the ground on which it sits. Continue reading What Documents Seller-Finance a Mobile Home Property Sale?