Most of the disadvantages of land contracts for buyers of property stem from the fact that the vendee does not receive the deed to the property at closing. The vendee obtains equitable title, but the vendor (seller) retains legal title. This situation usually exists until the land contract is paid in full. Mortgage loan lenders are highly (excessively??) regulated, mostly to protect buyers/mortgagors. Land contract vendors are not.A individual seller can be more demanding than a lender. The
Senin, 04 Juli 2011
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