Legal Question in Real Estate Law in Ohio

What is a land contract?

Could you please explain exactly what a land contract is. What are the pros and cons of using a land contract to purchase a house. What are the pitfalls to watch out for if getting involved in a land contract. Thank you.


Asked on 4/07/02, 9:54 pm

1 Answer from Attorneys
Gregg Manes Gregg A. Manes, Esq.

Re: What is a land contract?

A land contract is such that the former owner is the "bank" in that your payments go to the former owner. In order to make sure that the land contract is valid, one should consult an attorney. Once the payments are completed to the former owner, the house is then yours.

Good luck and be careful!!!!

Gregg Manes

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Answered on 4/21/02, 5:47 pm


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