Profile picture for VelvetSkeleton

I have a gentleman who wishes us to do a land contract with the property opposed to renting

The landlord does not wish to rent the property, but states he would place a no obligation clause in the contract, and as long as he was notified 30 days prior to us leaving, we could leave and break the terms of the lease. What would this land lord gain from this, if my family could just leave anytime after providing a notice? If we decided not to buy, how is this different then renting?
  • August 31 2013 - US
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Answers (1)

Profile picture for wetdawgs
Take the proposed contract to an attorney with experience in land contracts and have it reviewed carefully.   Most contracts have a number of clauses that make a land contract a great way to lose a huge amount of money.  Is the down payment refundable?  Is the monthly payment greater than fair market rent refundable?  Probably not.

  • August 31 2013
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