Archive for October, 2011

Will They Sell on Land Contract?

Would YOU give title to a 6 figure asset to someone with your credit history?

I don’t mean to sound snarky, but I probably get 2-3 inquiries a week asking about land contract terms. The call usually goes something like this:

Caller: Will the seller at X address consider land contract terms?

Me: How much downpayment do you have and how long of a term are you looking at?

Caller will usually have somewhere between 2 payments to 10% on the high side.

Me: Why don’t you want to get a mortgage?

Caller will usually not qualify for a mortgage because of a recent foreclosure, short sale and/or bankruptcy

So…. If you fit the scenario above: Would YOU give title to your house to someone who has a few thousand dollars and bad credit?

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Jackie Hawley
Keller Williams Realty Clarkston

Cell: (248)736-6407



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