How to find a Land Contract

Are you trying to find a home but you can not obtain conventional bank financing? Now you are considering a land contract. Where do you look to find a land contract?
This article will give you step by step instructions on finding land contract opportunities.

Difficulty: Moderately Easy

Instructions

1. *For Sale by Owner.
   Check your local papers and web sites for sale by owner ads. Some will even put in the ad, owner financing available. Contact owner's ads that fit what you are looking for, find out if they would be willing to do owner financing.

2. *Real estate Brokers and Agents.
   Yes, call a few local realtors, tell them what you are looking for and what you can afford. Most realtors have the necessary connections and information to find land contract opportunities faster than you can.

3. *Builders.
   Builders will come in and develop a whole sub-division and some times they do not sell all of the properties. Some builders do offer owner financing or rent to own. Usually these properties are brand new and the payment will reflect that fact, keep your target payment in mind.

4. *Network with friends and family.
   Let your friends and family know that you are seeking owner financing to purchase a home. Sometimes it is all about who you know and this is a good example of that. A referral from family or a good friend will go further than a stranger asking for owner financing.

Tips & Warnings

• No one will take you seriously if you do not have a decent down payment.
• Make sure you get legal advice on a land contact before you sign it.

Resources

• How to purchase a home with bad credit
• Please check out my other articles
• Tips on dealing with bad credit.

[KaraDiablo]

on 10/22/2009 For some this is an amazing chance to be one step closer to home ownership.