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Updated over 8 years ago on . Most recent reply

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184
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Todd Douglas
  • Realtor
  • Detroit, MI
33
Votes |
184
Posts

Land Contract a Land Contract

Todd Douglas
  • Realtor
  • Detroit, MI
Posted

Hello BP,

I was wondering can you Land contract out a Land Contract. I know its not clean, but is it legal?

Ex: A buyer is purchasing a house via LC and wants to sell the house via LC, is this possible?

Most Popular Reply

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Brian Gibbons
  • Investor
  • Sherman Oaks, CA
3,921
Votes |
6,088
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Brian Gibbons
  • Investor
  • Sherman Oaks, CA
Replied

As a rule I buy on land contract and lease with a rofr as an exit.

Buy on terms and rent out or help the renter get financing.

It gets ugly when you sell on CFD or other types of executory contracts and the vendee defaults.

See my article

https://www.biggerpockets.com/blogs/3/38181-rofr-is-better-than-an-option

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