What is a land contract? What are the pros and cons?

Learn about land contracts, and the pros and cons they offer both buyers and sellers in real estate transactions.

A mortgage isn’t the only way to purchase property. Land contracts are a great way to purchase land, a house, or commercial property without a lender.

What is a land contract?

A land contract is like a mortgage, but instead of using a lender, the seller finances the buyer. The buyer takes over property management and makes payments to the seller until they reach the purchase price.

Land contract pros.

Whether you’re the buyer or the seller, land contracts offer several benefits:

Land contract cons.

There are also a few potential disadvantages you should consider before entering into a land contract:

Land contracts are legally enforceable contracts and require both parties’ signatures to be official. To save time and energy, sign land contracts remotely using software like Acrobat Sign.

Explore more about what Acrobat Sign can do to make signing land contracts a breeze.