land contract V.S. deed of trust
I am working on trying to buy a property using seller financing and stuck on which route I should go. The owner has it rented now and the tenants would like to sign another 2 yr lease if they could, so I would be buying into income. Owner is moving back to Africa and owns it free and clear.
Is a land contract or deed of trust better in your opinion when buying through seller financing? what are the pros and cons of both? What have been your experience with them both if any?
Would love to hear @Bill Gulley and @Brian Gibbons suggestions as well as others.
Thanks