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Land Contracts Land Contracts are a great way to acquisition land and or lots directly from a property owner. An attorney is needed in order to prepare a Land Contract. Land Contracts are very much like a mortgage and normally involve negotiated terms pertaining to time frames, terms, land use, assignments and so forth. The Key to Land contracts is that no bank is required and therefore transactions are much cheaper and faster. Normally there are no approvals or subject to appraisals nor there are any lender fees or lender associated closing costs. The buyer knows what the property is worth and the seller is happy to sell. |
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