Question Details

Janice Thomas, Home Owner in Illinois

I am interested in a land contract for North Plainfield, Illinois until 12/2012

Asked by Janice Thomas, Illinois Fri Feb 25, 2011

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If you could provide more information it would be helpful. Have you found a property that you would like to buy with a land contract or are you looking for someone willing to sell this way? Do you just need the contract? There are online legal services that are very inexpensive for the contracts. I would help more if I new your objective.
1 vote Thank Flag Link Sat Feb 26, 2011
The transaction that you're proposing might be doable depending upon the terms thereof. Nevertheless, keep in mind that an investor would have to be able to profit from that transaction.
0 votes Thank Flag Link Sat Feb 26, 2011
You have a couple of very good answers in your other questions regarding waiting and buying down the road. If you just can't wait, procede with caution. Find a local real estate investors association and go to a meeting or atleast check out there websites for available properties. Let them know what you are looking for and their will be many willing to help. Be careful, many of them have limited experience. Make sure you have someone on your side to protect your interest such as a Realtor and an attorney. You should get a home inspection and you should expect to pay a little over fair market value. Any deposit will likely be non refundable and in the 3-5% range minimum. If you rent for 2 years while the prices continue to decline you might be better off. Good luck!
0 votes Thank Flag Link Sat Feb 26, 2011
Land contract for what ? Cities have restrictions what can take place on any property best speak with your buyers agent direct

Lynn911 Dallas Realtor & Consultant, Loan Officer, Credit Repair Advisor
The Michael Group - Dallas Business Journal Top Ranked Realtors
0 votes Thank Flag Link Sat Feb 26, 2011
I am looking to purchase a foreclosure-reo home, But I need an investor to purchase the home for me
0 votes Thank Flag Link Sat Feb 26, 2011
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