You only need to deal with the land contract holder and his agent to buy the property. Just be sure you are buying the property and end up with ?fee title? to the land. The ?owner? of the land has already signed a ?contract? with the land contract holder and doesn?t need to also sign yours. You should ask for and try to get a copy of the sellers land contract if at all possible to be sure they have the right to sell to you. Don?t be too upset if they say no.
Posted by Kathy (MI) on February 11, 2002 at 09:08:33:
First, let me say I am so happy I found this website. The amount of knowledge I am getting here is amazing. So, let me take advantage a little more… I have an offer on a property. So far I have only dealt with the land contract holder and the selling agent. The agent called me a couple days ago and said my offer has been accepted by Mr. X (the LC holder). Wouldn’t the offer have to be accepted (and signed) by the owner? Should I be concerned about title? I want the original title at closing, not equitable title, and I don’t know how many LCs exist on this property. Thanks.