Land contract vs owner finance
Have a deal on the table where the owner is open to a land contract with fairly generous terms (march close, 3%, 30 year am, 10 or 20 year balloon 20% down.
I am not super familiar with land contracts, but I know they differ from owner financing in that in an LC the owner holds the title and the 'note'. I would greatly prefer to do traditional owner finance where I hold the deed and the owner holds the lien, clean and easy.
The question is, is there a big enough material difference between OF and LC to try and change the owners mind?
Follow up: What could I say to convince the owner that OF is the better way to go?