Avoiding Risk With a Land Contract
What is a Land Contract?
Land Contracts are special and specific contracts and agreements between a Buyer and a Seller, where the Buyer agrees to make payments for the land directly to the Seller, and the Seller in the transaction essentially operates as a bank.
We can guide you through the risks
There are some very important terms and conditions that need to be included in and made a part of a Land Contract in order to make sure it is properly structured, fair, and balanced for both sides. The Buyer and Seller each need to have a competent attorney guide them through the transaction. The risk to both the Buyer and Seller is quite a bit higher than a normal real estate transaction. The Buyer promises to pay funds to the Seller, and the expedited ability of the Seller to foreclose on the property are both possible risks.
At Caliber Law, we have assisted multitudes of clients in setting up, and properly documenting and negotiating Land Contract transactions.
- Drafting and preparation of Land Contracts
- Verification and confirmation of title for Land Contracts
- Structuring and discussion about proper structuring of Land Contracts
- Enforcement terms for Land Contracts
- Defaults and foreclosure of Land Contracts
- Security of payment under Land Contracts
CONTACT US TODAY to find out how we may be able to guide you through your transaction.