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Updated over 8 years ago on . Most recent reply

Todd Douglas's profile image
Todd Douglas's profile image
Todd Douglas
  • Realtor
  • from Detroit, MI
  • Member since Jan 27, 2017

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Todd Douglas's profile image
Todd Douglas's profile image
Todd Douglas
  • Realtor
  • from Detroit, MI
  • Member since Jan 27, 2017
Todd Douglas
  • Realtor
  • Detroit, MI
33
Votes |
184
Posts
Buying & Selling Real Estate

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?

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Brian Gibbons's profile image
Brian Gibbons's profile image
Brian Gibbons
  • Investor
  • from Sherman Oaks, CA
  • Member since May 23, 2008

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Brian Gibbons's profile image
Brian Gibbons's profile image
Brian Gibbons
  • Investor
  • from Sherman Oaks, CA
  • Member since May 23, 2008
Brian Gibbons
  • Investor
  • Sherman Oaks, CA
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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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