Protecting the Seller on a Home Land Contract Sale
Filed Under Home Owners, Investors, Landlords, Uncategorized · Tagged: 1031 exchange, contract, land sale, land sales contract, landlord, private contract, real estate, real estate portland, selling on contract, tax deferment
· Obtain a Credit Report on the Buyer.
· Demand a Title Insurance Policy.
· Ask for a Hefty Down Payment.
· Carry the Financing Short-Term.
· Verify the Buyer’s Employment.
· Ask for Personal References.
· Insist the Buyer Obtain a Homeowner Insurance Policy.
· Set Up a Disbursement Account.
· Collect the Taxes From the Vendee.
· Include a Late Payment Charge in the Land Contract.
· Ensure Continued Maintenance and Care.
· Prevent the Vendee From Assigning the Contract.
· Talk to a Lawyer.
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