Posted by B.L.Renfrow on November 19, 2000 at 11:00:13:
…benefits of BUYING on a land contract, from the investor’s perspective. Plenty of benefits from SELLING this way, however.
About the only way I’d consider buying on a land contract would be if it was an absolutely great deal, and I couldn’t convince the seller to do anything else, and I already had a buyer lined up who I was sure could qualify for financing down the road. Even then, I wouldn’t be thrilled about it…too many things which could go wrong, and it leaves the seller with too much control over MY deal.
On the other hand, I love selling on land contracts. The terms can be anything you and the buyer agree upon. There are no pain-in-the-a$$ lenders to deal with. And retail buyers will flock to owner-financed deals like kids to the candy store.