Home Buying in 08873>Question Details

Cmathisen81, Home Buyer in 08873

How would I go about finding a land contract? I live in Manteno Illinois.

Asked by Cmathisen81, 08873 Thu Dec 23, 2010

I have been told in my case a land contract would be the best way of me purchasing my first home. If anyone has any information it would be greatly appreciated!

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Dear Cmathisen81,

I will be glad to refer you to a Prudential agent. Is this the best way to commmunicate with you?
0 votes Thank Flag Link Sun Dec 26, 2010
Dear Homebuyer,
Are you looking for land in NJ? However, buying land is an option for the a virgin home buyer. It is not the the only one. There is a lot of work involved in making sure that the land is approved for residential, is ina decent neighborhood, check schools, taxes, comparabales of homes apperciating and being bought and sold in the neigborhood you are considering to buy. Does it have public sewer and water? I would suggest that if you buy land, go to the local planing and zoning board and get all the information. If you want a referal from me in your area I can hook you up witha reliable Prudential realtor who can guide you in your quest.

0 votes Thank Flag Link Sun Dec 26, 2010
Hi Cmathisen81

Check on http://www.realtor.com or
ask any local Realtor.

Happy Holidays.


0 votes Thank Flag Link Sat Dec 25, 2010
Usually a land contract means the seller provides financing to buy the property for an agreed-upon purchase price and the buyer repays the loan in installments. This is certainly one way to buy property as the seller acts as the bank. There are downsides of course, like the seller may want a balloon payment at the end of the contract. Contact a real estate attorney to get a proper legal opinion.
0 votes Thank Flag Link Sat Dec 25, 2010
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