Seller financing - Posted by Michael

Real Estate Investing
1

Posted by Nate on March 13, 2001 at 08:53:06:

That is the legal term meaning, basically, you own the land and improvements and can sell, mortgage, use, etc. as you wish.

Nate

2

Seller financing - Posted by Michael

Posted by Michael on March 12, 2001 at 11:04:58:

Hello all,

I posted a question similar to this one but it never got answered so here it go’s.
If I acqiure property on a Lease option or a Subject to deal, can I sell that property on a Land contact(CFD)?

I would prefer to sell on a lease options but a broker told it would be easier to get the T/B’s financed on a land contract? So if he’s right then will I be able to sell on land contract when buying through L/O’s and Subject to’s?

Thanks for the help!

Michael KY.

3

Re: Seller financing - Posted by Paul_MA

Posted by Paul_MA on March 12, 2001 at 13:16:08:

Mike,

You should get the deed signed over to you before doing a contract for deed.
Otherwise you have no right to sell.

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Re: Seller financing - Posted by Nate

Posted by Nate on March 12, 2001 at 17:58:38:

Correct. If you control via L/O, you can only do another L/O because you have only a leasehold interest.

If you control the fee simple interest, whether via land contract, subject-to, or conventional financing, you can sell via land contract or any other method you want.

NT

5

Re: Seller financing - Posted by Michael

Posted by Michael on March 13, 2001 at 01:26:51:

Thank you for your responses but Nate, what exactly does control the fee simple interest mean?

Thanks,
Michael KY.