land contract

6 Replies

does anyone have a land contract I can use.  I have been trying my best to find one and cannot.  Please help

better question is do I need a land contract to buy raw land

Hi @Everett Marshall . A Land Contract is a (bad) form of seller financing.   You are probably seeking a purchase and sale agreement (PSA).  Maybe google that up for your state!

can I use the same contract that I use to lock up houses.  A Purchase and Sale of Real Estate contract 

On my land contract we started with a regular purchase agreement which stated the financing terms as a land contract etc... Once the offer was accepted the attorney drew up the land contract which was basically just an exact copy of the information we had in the purchase contract. This property was in Ohio and I live in CA.

so are u saying I can use my regular assignable that I have been using on wholesales

I am trying to figure out how to do this properly myself. From my research each state has its on rules and regulations. Some states make it so that you would NOT want to do this due to the way the equitable title is recovered if there was to be a default. My state TN seems to be a good place to use it since we are a nonjudicial state and on a land contract it would be a simple forfeiture notice. I have put out some feelers for my local expert attorney. I think I will use an attorney on my first one to get all the forms and learn what to look for. If someone here is familiar with TN land contracts any tips would be greatly appreciated. 

Join the Largest Real Estate Investing Community

Basic membership is free, forever.

By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.