land contract - Posted by randy

Posted by Ed Copp (OH) on May 25, 2000 at 09:49:19:

Randy,
A Land Contract, is a perfectly legitimate way to purchase property. It will offer an opportunity for you to establish a track record, and improve your credit score. The laws are different from state to state. Since you did not say what state you are in it is difficult to offer more info…ED

land contract - Posted by randy

Posted by randy on May 25, 2000 at 08:24:26:

Help anyone…
Our credit scores are low and we are looking to purchase a duplex our mortage man is offering to buy the property as part of his exchange from selling a previous property and we would pay the mortgage to him and still collect rent and earn equity. He says we will still technically own the land through a land contract but he will have the deed in his name. Is this correct or are we going to end up paying him and then not owning anything in the end??