Selling an underwater house using a land contract

[Tiffany Hayden]

I posted the other day about renting out my primary residence. I've been reading through the forums and thought that selling the house on a land contract might be an idea to consider. I don't know very much about land contracts. If I decided to take this route, I'd definitely use an attorny. I have a few questions:

1. Can you sell an underwater house using a land contract?
2. If you had a 10 term, does that mean that the buyer has paid off the house at the end of the 10 years?

Can someone describe a scenerio using a land contract? I'm in MI.

Thank you!!!