What is Land Contract?

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A land contract is an installment contract in which the seller finances the purchase. The seller maintains the deed until satisfaction. It is comparable to owner financing. The buyer gives the seller a down payment and the seller acts as a bank; financing the balance of the purchase or sale price. The interest rate is negotiated by the parties.

The interest rate is negotiated and set by the parties involved. Land contracts can be created on or used on most types of property such as residential, land only, mobile home with land, commercial, mixed use.

Learn more about Land Contract by clicking the flyer below.

Download the full PDF version of Ticor’s Land Contract informational flyer, here.

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