For more information, visit: [ Ссылка ] A land contract operates as a special type of arrangement between a seller and a buyer for the sale of real property, such as a house or commercial lot. In general, a land contract works by having a seller provide the capital for funding the loan on the property. The buyer is then responsible for paying monthly installments to the seller until the balance on the loan is paid off. Land contracts can be used to purchase residential homes or commercial properties. A land contract may also be referred to as a contract for deed, deed of trust, privately held mortgage, or installment land contract.

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