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How to Replace Value Choice to the Land Contract

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alright guys today I want to talk to you about doing subject twos to a trap okay so in the only one calculator I keep adding on to this thing Ive created an option 8a that kind of goes beyond just subject twos that we can wholesale the subject twos that we can keep and then sell on land contract now remember a subject 2 is youre getting the deed to the property and the existing mortgage is staying in place on that property okay and then what were going to do is were gonna once we get the deed actually kind of simultaneously because once we get agreement to buy it on subject - were gonna market that property to sell a land contract right - wrap it and were gonna see Im gonna walk you through how to use this calculator and youre gonna see how you can make short term money as well as cash flow now the other thing which is cool is the subject to to wrap so I should say subject to to wrap is really a tricks well with no equity in the deal or very very low equity in the deal of cours

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What is another name for a land contract quizlet?

Land Contract also known as. Conditional sales contract, conditional installment contract, contract of sale, agreement of sale.

What best describes a land contract?

A land contract is a written legal contract, or agreement, used to purchase real estate, such as vacant land, a house, an apartment building, a commercial building or other real property. As a type of specialty home financing, a land contract is similar to a mortgage.

What is a disadvantage of a land contract to the seller?

Disadvantage #1: The title does not automatically pass to the purchaser in a land contract. Disadvantage #2: The seller could be held legally responsible for inspection issues with local or state authorities. Disadvantage #3: Forfeiture of a land contract by the purchaser is a fairly common occurrence.

What is another name for a land contract?

Also known as a contract for deed, land-installment contract, bond for deed, bond for title or agreement for deed, a land contract is a form of seller financing that may appeal to buyers or sellers who want an alternative to a traditional mortgage.

What is another name for a contract for deed?

The legal term contract for deed refers to a real estate transaction that takes place directly between the buyer and the seller, with no lender involved. It is also known as an installment purchase contract, installment land contract or bond for deed.

What are the three essential terms in a land contract?

To be enforceable, a purchase contract must set out the essential terms of the agreement; in particular, it must clearly describe the three Ps (parties, property and price) and other key terms such as the completion date and the particulars of any vendor financing or leaseback.

What is an installment land contract also known as?

An agreement to transfer title to a property once conditions of the contract have been fulfilled. Also known as a contract or bond for deed.

What is the disadvantage of a land contract for the buyer?

Con: The Buyer Depends On The Seller As a buyer, youre placing a ton of trust in the seller. For instance, if its a wrap-around land contract with an existing mortgage still being paid off by the seller, the buyer can lose the home through no fault of their own if the seller doesnt make the payments.

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Replace Value Choice to the Land Contract