What is buying land on a land contract?

Question

This guy has some land for sale on a land contract. What does that mean.

Answer 1

This guy that has the land for sale is probably selling it contract for deed. This option can eliminate financial institutions and give tax credits in some states. A person with no or not much credit can buy this land on a payment contract drew up by the owner or his attorney. These type of sales can be advantageous to both seller and buyer.