Legal Question in Real Estate Law in Michigan

Is selling a house on land contract in today's market a good idea? Does land contract mean that I still be the owner of the house until it is paid off in 20-25 years?


Asked on 7/16/10, 4:09 am

1 Answer from Attorneys
Timothy Klisz Klisz Law Office, PLLC

Yes and yes. You are still acting as "bank" so there is an amount of risk involved in selling to someone with bad credit, etc., but sometimes this is the only way. Make sure you get written permission from your mortgage holder, if you have a mortgage, or you violate your mortgage's Due on Sale clause. www.kliszlaw.com Tim Klisz

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Answered on 7/16/10, 10:44 am


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