So you want to get a land contract for your new home. Your reasons may vary. Maybe you are getting into the market because you are considering buying a foreclosure property. Or maybe you want to avoid that and find a better house with lower payments.
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Regardless of your reason, you should get a sample land contract. You will be surprised how useful these are and how easy they are to use. These contracts can help you determine the value of your land and help you keep up with your mortgage.
A sample land contract is just a page long. The document you receive will tell you the square footage of your land, what the legal description of your land is, and what tax rate applies to your land. All of this information will be in black, and white, but you will still be able to figure it out if you are confused.
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A land contract is a great place to start if you are looking for a bargain home. Because it is so easy to get a free contract from a lender, you should take advantage of getting one and see if you can negotiate a better deal on your home.
In Michigan, the rules for the state and county department of real estate are the same as those in the federal government. This means you should go with the contractor that you feel most comfortable working with. However, be sure to choose a contractor that does not have any complaints against them.
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Check online to find out which contractors you should be looking for. Of course, if you are only considering buying a foreclosure property you may have to do some research and decide who you want to work with first. This can sometimes be difficult though, so it is best to contact several different contractors at once and then decide on one.
An example of a general land contract would be the information below. It will tell you how much land you own, if the square footage is an acre, square feet, or acres, the length of the title and if you are buying. The land contract will also show you how much you owe in taxes and who you owe those taxes to.
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Your land contract can help you decide how much you should pay for your land and help you determine how much your land is worth. The contract can be used for tax purposes and other purposes.
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