Land Contracts

A land contract, also known as a contract for deed, is an agreement where a buyer purchases property from a seller through installment payments rather than obtaining a traditional mortgage. The seller retains the title to the property until the buyer completes payments. The buyer can use and occupy the property during this time. If the buyer fails to make payments, the seller can reclaim the property. This arrangement can be beneficial for buyers who may not qualify for conventional financing but come with risks, including potential loss of the property if payments are missed.