Housing: What is a land contract? Advantages, disadvantages of the homeownership practice

August 19, 2022

The pandemic housing market has been especially tough for homebuyers looking at the lower end of the price spectrum, so many are looking at alternative financing through land contracts, which can be particularly predatory. While it can be a potential path toward homeownership, assistant professor Eric Seymour says land contracts are particularly attractive for unscrupulous property dealers because rather than offering a property as a rental – which puts the property owner on the hook for maintenance and repairs – a land contract puts all the responsibilities on the buyer.

USA Today, August 17, 2022
Yahoo News, August 18, 2022

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