Thank you all in advance for the information. If there is an article, already that answers my questions, please feel free to point me in the direction.
I am exploring the option of selling houses on contract. I am wondering how everyone else has structured their contracts.
1. What are some added security measures that you have or have heard of someone putting in their contracts? (Example: Loan default, late payment penalties)
2. What are some good value adds that you have heard of? (Example: Added appreciation per year)
3. Who is responsible for paying property taxes and insurance? (I am assuming, as deed holder, you would want to carry insurance no matter what)
4. If buyer is responsible for paying taxes, what happens if they stop paying?
5. Anything else that may be of significant value to bring up?
this is a complex issue get legal advice