Updated about 5 years ago on . Most recent reply
Land Contract Agreement
I am working on a FSBO property in which the owner agreed to Seller Financing and or a Land Contract. After speaking with the real estate attorney he advised me that based on my desire to refi or sale upon completion of the rehab that a Land Contract could work well for me. I'm in a good stable market in a suburb of Pittsburgh, PA and expect to have the rehab complete in approximately 3 months. The numbers on the deal work very well even out past 6 months and the Land Contract would be setup for 9 months. Should I be concerned about using a Land Contract over a Seller Financing mortgage for any specific reason? What are the pros and cons of each in my scenario?