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Sample Land Contract Rural Law Center of New York Form

Sample Land Contract Rural Law Center of New York Form

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I'm David Sobel and I'm a real estate and finance attorney here in Michigan and today's question comes from Greg and Livonia who says I'm considering purchasing a home with my fiancee the seller is offering a rent-to-own program and what I want to know is is there a difference between a rent-to-own contract and a land contract at this time we don't qualify for a traditional mortgage and while we're working on it we do want to know what we should be doing with what's in front of us so I guess what that means is that you want want to know if you should be doing a lease option or land contract so here's the thing Greg a land contract is a purchase agreement where the seller of a home is providing what we call a seller financing they're acting as your lender and usually these sellers they've built up a lot of equity in their property already and they're looking for a specific rate of return for the fina

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