land contract

2 Replies

I am looking at a property for 35,000 and the seller is willing to do a land contract with 3000 down and 300 a month, no interest.  Can I buy the property on land contract and still assign it to another buyer? It's a duplex and I was thinking of living in one side renting out the other.  Or just rent both sides and use the money elsewhere.  My question is can I buy the property on land contract, fix it up myself and then assign it to another buyer.  Please help thanks.

Yes don't see why not as long as the note is paid in full by the end buyer

Most land contracts will not allow you to do this without the seller's (lender's) approval. If you can put a clause in the contract that gives you the right to assign it without the seller's approval then you will be able to. It is always best to get a local real estate attorney's review of the documents to make sure they give you the rights you require.

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