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Updated over 6 years ago on . Most recent reply

What are benefits and risks of a Land Contract w/a mortgage?
I put a Duplex on the market in Michigan and received a land contract offer. It presents itself well like buyer offered over-asking, the interest rate is great and financing for a term of 6 years with a balloon at the end of the term. Buyers are going to use the property as a group home for people with disability and elderly care. Since I've never done one of these, what should I be looking for in terms of risks? What if they don't pay and I end up evicting everyone? Any help would be greatly appreciated.