Land Contract on a future short sale

[Josh Nabors]

I have a question concerning a land contract/ subject to deal.

I will be proceeding with one of these deals, however, I have a question. She is "selling" the house to me for 75k but currently owes 98k. Essentially, I am land contracting a short sale. Whenever I buy the property in the next 2 years,  will I own it free and clear even if she owes the difference still?

What sort of things should I be on the look out for? 

[Wayne Brooks]

You "think" you are buying the house for $75k.  You'll have to pay off the existing mtg to get clear title.  Your land contract will do nothing to delay any foreclosure either.  You're setting yourself up to have to walk away from this thing at some point, regardless of how much money, time and effort you've put in it.