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?
  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 31 2013 - US
We think we've answered this question for you!
  • Be a Good Neighbor. Be respectful and on-topic. No spam or self-promotion! See our Good Neighbor Policy.
 
 

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.

  Flag content
Close
Report a Problem

Please enter a valid email address.

Close
Content flagged

We will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.

Close
We're Sorry
This service is temporarily unavailable. Please come back later and try again.
August 31 2013
 
Related Questions
Buying a condo....
Profile picture for Spencer Adamson
Latest answer by Spencer Adamson
1 day ago | 2 answers
We would like to be able to purchase a home having 45K in cash but very poor credit !
Profile picture for Nicolette Wayand
Latest answer by Nicolette Wayand
1 day ago | 10 answers
i need a place
Profile picture for Seth McCauley
Latest answer by Seth McCauley
2 days ago | 2 answers
Mortgage Rates
 
Be A Good Neighbor

Zillow Advice depends on each member to keep it a safe, fun, and positive place. If you see abuse, flag it. More on our Good Neighbor Policy.