Posted on: 12th Jul, 2010 06:35 am
Let's say I want to buy a house and want title at closing without a land contract. I just want the seller to act as the mortgage bank for X years. Can I write up the financing with terms without including the property which I would already have title to? (Is a land contarct then ness. at all?) Thank you.
What you are proposing is called "seller financing" and happens all of the time. The seller needs to own the home free & clear and also needs to be willing to provide that type of financing.