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Question about Selling Land Contract for Deed
Hi,
I have 5 acres that would make an awesome building site out in the country. Someone has expressed interest in buying the land contract for deed and putting a double wide mobile home with a permanent foundation on the land.
I am fine with selling the land contract for deed I was just wondering what would happen if the buyer defaulted on their payment while still making payments on their double wide mobile home? Would I get a free home out of the deal or would I be responsible for paying the lien holder of the mobile home?
Perhaps I should write in the sales contract that all improvements made to the land will not be reimbursed in case of default (not sure if this covers me 100% though :cry: )