 Land Contracts (by Ann [VA]) Apr 27, 2012 7:26 AM
 Land Contracts (by Chris [CA]) Apr 27, 2012 8:01 AM
Land Contracts (by mike SWMO [MO]) Apr 27, 2012 9:10 AM
Land Contracts (by TIM [IN]) Apr 27, 2012 11:53 AM
Land Contracts (by BRAd 20,000 [IN]) Apr 27, 2012 6:46 PM
Land Contracts (by NC INVESTOR [NC]) Apr 28, 2012 7:15 AM
Land Contracts (by MIKE SWMO [MO]) Apr 28, 2012 8:10 AM
Land Contracts (by Ann [VA]) Apr 28, 2012 8:56 AM
Land Contracts (by NC INVESTOR [NC]) Apr 28, 2012 5:14 PM
Land Contracts (by Mike SWMO [MO]) Apr 28, 2012 6:41 PM
Land Contracts (by Ann [VA]) Posted on: Apr 27, 2012 7:26 AM
Message:
State Specific Question About: VIRGINIA (VA)
Has anyone had experience with Land Contracts? --72.169.xxx.xx |
Land Contracts (by Chris [CA]) Posted on: Apr 27, 2012 8:01 AM
Message:
Never again! Check the foreclosure hassles & cost! --101.108.xxx.xxx |
Land Contracts (by mike SWMO [MO]) Posted on: Apr 27, 2012 9:10 AM
Message:
You can do a land contract IF
The owner agrees to your terms which WILL include but are not limited to
1. This contract will NOT be recorded at the recorders office until final payment is made.
2. This contract is not to be in effect until ALL payments are made.
3. You do NOT give a copy of the contract to the purchaser until payments are made.
4. Have purchaser rent property from you until enough payments have been made to pay off property and then make a payment of ten dollars which you will show on the title transfer paperwork. $10.00 and other good and valuable consideration.
5. A large enough down payment that it would take care of all possible foreclosure cost.
6. and anything else you can think of to CYA
You might say “no one in their right mind would agree to such terms. You would be surprised.
I have one going on right now. All we signed was a standard rental contract, but had verbal agreement about him buying it. He does all repairs, maintains property, pays taxes etc. just as though he owns it. And he will if he upholds his end of the agreement.
--75.88.xx.xxx |
Land Contracts (by TIM [IN]) Posted on: Apr 27, 2012 11:53 AM
Message:
Done two of them. Not crazy about them. Do lease with an option to purchase instead. Easier for the LL. --67.236.xxx.xxx |
Land Contracts (by BRAd 20,000 [IN]) Posted on: Apr 27, 2012 6:46 PM
Message:
Ann, Do a Rent To Own and stay in control of your property. Take a $5000 Non-Refundable RTO Fee. --50.129.xxx.xxx |
Land Contracts (by NC INVESTOR [NC]) Posted on: Apr 28, 2012 7:15 AM
Message:
The terms outlined by Mike is the reason so many states won't enforce land contracts. ..too one sided in favor of the seller. --68.100.xxx.xx |
Land Contracts (by MIKE SWMO [MO]) Posted on: Apr 28, 2012 8:10 AM
Message:
NC investor
That may be true. But then again the state will not have to enforce anything. However the seller MUST be an honest person.
--75.88.xx.xxx |
Land Contracts (by Ann [VA]) Posted on: Apr 28, 2012 8:56 AM
Message:
Does anyone have a real good Rent to Own contract that would help me? --72.169.xxx.xx |
Land Contracts (by NC INVESTOR [NC]) Posted on: Apr 28, 2012 5:14 PM
Message:
That sounds a little like the used car salesman saying "trust me". --68.100.xxx.xx |
Land Contracts (by Mike SWMO [MO]) Posted on: Apr 28, 2012 6:41 PM
Message:
Your right about the used car salesman – or anyone else for that matter.
I have another house besides the first one I mentioned that some people have been into for about 3 years now. They do pretty good most of the time but are a little slow with payments now and then, like every 2 or three months. Just two days ago they paid me for March and April. Funny thing is they want to buy another one from me. Same deal. Just how gullible can people be.
BTW I also have a used car lot. Not a big one, just started 2 months ago.
Another one of the sayings I go by is that if you always tell the truth then you don’t have to remember what you have said.
--75.88.xx.xxx |
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