Steps in land contract deal - Posted by las

Real Estate Investing
1

Posted by ray@lcorn on August 18, 2003 at 13:33:22:

las,

That’s the basics…

I would add that you should be certain to use your own attorney to draft the land contract. Every contract contains a bias toward the drafter and, in my experience, no matter how many amendments are made the contract never loses its original bias.

ray

2

Steps in land contract deal - Posted by las

Posted by las on August 18, 2003 at 09:33:46:

I am considering making an offer on a 22 unit multifamily building. I have great credit but self employed for the last year. I would like to make an offer on the building to buy it with a land contract. Can someone speak to how the process typically works. That is…what are the steps?

  1. Submit purchase agreement with a condition of creation of satisfactory land contract

  2. Agree on price

  3. Have attorney draw up contract???

Any direction would be appreciated.