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This land contract is on a commercial piece of property (not yet operational business) and it required a balloon payment. I would like to keep this as civil as possible and not incur large legal fees. But the buyer will not respond to my phone calls and is two months late with the final payment, What is the procedure to regain possession of the property? The property is in Wisconsin.

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Also…is it normal to expect a downpayment with a land contract?

Only post an answer if you have been in a land contract or researched them. Thanks!

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I have sold a home on Land Contract, and need to know how to go about selling the agreement to someone else.
Please no goofy answers as I am very seious.

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My husband and I found a small house and we absolutely fell in love with it. We work together and make $52,000 a year. The house we’re looking at only costs $75,000. The problem is that we only have 5% to put down and we don’t have enough established credit to get a loan (we’re only 22 and have only had credit cards for 3 years). The owners are willing to do a land contract – is this a good idea?

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Im selling a house on a land contract. The payment is 250 per month for 5 years at 7%. Total principal is 24,000. Baloon payment after 5 years to pay off balance. Buyer makes irregular payments so tracking interest is difficult. I cant find a program to do what i need it to do. The contract says the ballon payment will be 17,761.72 so do I assume that that figure is a constant or can it be adjusted? Im lost after 10 months. I know he is behind on payments but dont know the amount that will catch him up.

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A reliable close friend of the family (close enough to actually be a member) is interested in a land contract with my home.

They were not approved for the full amount to purchase so we offered a land contract.
They just don’t have enough credit established.

I have never been in this situation before. I trust them, I just wanted to hear someone else’s experiences or thoughts on this.

Thanks!
They are close, but I don’t see them very often. Believe me, as with anyone they would be evicted and taken to court… A deal is a deal. So I’m not all that concerned about the way the family feels.

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Product Description
This digital document is a journal article from Journal of Development Economics, published by Elsevier in 2007. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.

Description:
Tenurial contracts in agriculture can be an initial source of wealth accumulation for dynasties of poor, credit-constrained individuals. The income from such co… More >>

Land and the transition from a dual to a modern economy

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Can anyone tell me what the difference between a Land Contract and a Rent To Own home? And I am in the state of Indiana if that makes a difference.

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I am going to be purchasing a condo on Land Contract. We have everything negotiated so far except for who will be paying the taxes. Is it generally either the buyer or the seller, or is it completely determined by negotiating? Thanks!

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• ISBN13: 9781888699067
• Condition: USED – VERY GOOD
• Notes:

Product Description
This book explains the uses and benefits of “Illinois-type” land trusts. It explains in detail all the steps from setting up to closing down a trust and includes 29 different legal forms. These include deeds, a trust, amendments to the trust, financing forms, tax forms and many more. It has an appendix which includes relevant statutes and court cases from all 50 states. Land trusts offer many benefits, such as keeping your real estate holdings private and avoi… More >>

Land Trusts for Privacy & Profit: Using the “Illinois-Type” Land Trust in Other States

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