I am having to move due to the military. I would like to sell my house to my son on a land contract. He has bad credit and would not be able to buy one any other way .Please help us to findthe right way to do this so eveeryone is legal and happy.
2006-09-20 05:17:53 · 3 answers · asked by Jay F 1 in Business & Finance ➔ Renting & Real Estate
There are land contracts or contracts for deed in most stationary stores or on the web. Fill them out completely. Do NOT file it with the county unless the property is free and clear. This would trigger a due on sale clause in your deed of trust. If free and clear then set up a lease purchase on the land contract so he must pay you the rental for X number of years and the home becomes his.
2006-09-20 05:38:38 · answer #1 · answered by golferwhoworks 7 · 0⤊ 0⤋
This is easy have a lawyer draw up a contract for deed. Make sure to record the contract with the county. It is easier to refinance that way and you are done.
http://www.diversifiedlender.com/
2006-09-20 13:28:20 · answer #2 · answered by Matt J 3 · 0⤊ 0⤋
see a lawyer
2006-09-20 05:24:47 · answer #3 · answered by Anonymous · 0⤊ 0⤋