A land contract (sometimes known as a "contract for deed" or an "installment sale agreement") is a contract between a seller and buyer of real property in which the seller provides financing to buy the property for an agreed-upon purchase price and the buyer repays the loan in installments. Under a land contract, the seller retains the legal title to the property, while permitting the buyer to take possession of it for most purposes other than legal ownership. The sale price is typically paid in periodic installments, often with a corresponding fully amortized loan without a final balloon payment. When the full purchase price has been paid including any interest, the seller is obligated to convey legal title to the property buyer. An initial down payment from the buyer to the seller is usually also required by a land contract. The legal status of land contracts varies from region to region.
Home Marketing Systems Inc. is offering land contracts to qualified buyers. Buyers who have recently experienced bankruptcy or foreclosure are not automatically excluded. In fact, we find that debt relief is beneficial. It is our desire to structure our offerings to make it work for you.
We are interested in your time on the job, total family income to debt, a reasonably stable lifestyle and a commitment to a new beginning. We may ask you to attend a money management seminar or we may ask you to develop your credit with us by starting with a lease-option that converts to a land contract down the road. Either way, we are committed to finding a way if it exists.
Check out the homes we have available. See if one fits you. This isn't likely to be your last home and we can incorporate buy-back programs under certain circumstances that allow you to buy another form us when you can. We look forward to discussing a new home with you.