Land contract vs seller financing differences

[Austin F.]

This seems like a fairly easy question, but I cannot find the answer to it. Whenever I ask a realtor about "seller financing" they immediately refer to it as a "land contract". I know the two are different, and I think I know why, I am just curious as to what BP has to say, and what is a good way to explain the differences to realtors and sellers?

Thanks! 

[Christopher Phillips]

@Austin Nelson

Land contracts are a form of seller financing.

Difference is that with a land contract, you make payments and don't get the title until the end when all the payments owed are finally satisfied.

With regular seller financing, you get title at closing and then sign a promissory note with payment terms.