Updated over 3 years ago on . Most recent reply
Seller finance protection
Has anyone sold vacant land with a note carryback and been concerned that the person buying the land does something to create an environmental health hazard? I know when I sell the land it is my protection (collateral) to protect me from financial loss on the note, but if they stop paying and I foreclose how do I guarantee that they have not reduced the value to zero, or worse make me liable for any cleanup?