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Im David Sobel and Im a real estate and finance attorney here in Michigan and todays question comes from Greg and Livonia who says Im considering purchasing a home with my fiancee the seller is offering a rent-to-own program and what I want to know is is there a difference between a rent-to-own contract and a land contract at this time we dont qualify for a traditional mortgage and while were working on it we do want to know what we should be doing with whats in front of us so I guess what that means is that you want want to know if you should be doing a lease option or land contract so heres the thing Greg a land contract is a purchase agreement where the seller of a home is providing what we call a seller financing theyre acting as your lender and usually these sellers theyve built up a lot of equity in their property already and theyre looking for a specific rate of return for the financing its more or less an investment for them especially in this market right now were