land contract
Owner-financed property sale
A land contract is a financing arrangement where a buyer makes payments directly to a seller over time, receiving the deed only after paying in full.
Unlike a conventional mortgage, the seller retains legal title during the payment period: They bought the farmhouse on a land contract because they couldn't qualify for a bank loan.
Also called a contract for deed.
- deedWritten property conveyance
- legal titleProof of ownership rights
- mortgageSecured home loan
- installmentPeriodic partial payment
- sellerOne who trades goods
buyer · property · title · equity · financing · balloon payment · default · foreclosure · real estate · purchase · purchase price · agreement · escrow · down payment · monthly payment · vendor · vendee · ownership
- Land Propertydeed, parcel, lot, plot, tract
- land rightseasement, easements, freehold, right of way, leasehold
- property recordsproperty deed, deed, deed of trust, title, trust deed
- sales contractssales agreement, purchase agreement, bill of sale, deed of sale, buyer agreement
- property rightsownership, property rights, private property, real property, title
- real estatehouse, home, apartment, property, sale
land contractconventional mortgage
Home loan without federal backing
bank loan · mortgage loan · FHA loan · VA loan · conventional loan
land, contract, lands, landed, landing, landless, landlord, landowner, inland