M,

For a home buyers and home sellers, it's about reaching an agreement that will benefit both parties. It's certainly very expensive for any seller to leave his house on the market for the winter with the chance of sale being slim over the next 4 months.

Have you considered a lease to own option. It may be less risky for both you and the seller, and be of more benefit to both of you in the long run.

To the best of my knowledge, a land contract will not bring you the $8,000 first time home buyer tax credit.

The downside of a land contract for you is the sizable down payment that most sellers will surely want.

Hope that is of some help to you.

Many Blessings,

Jim

Hi M-
I just checked & there are 12 homes in Newbury that are under $150,000. Interestingly, 6 of these have been on the market for more than 6 months. If you would like , I could e-mail you these listings for your review. If one or more of these would work for you, we could then pursue this approach with the Sellers.
I am a Realtor that lives in Geauga county. Please call me at 440-487-2193 or drop me an e-mail at John@CallRealtorJohn.com
Look forward to hearing from you!
John Wirsing
e-PRO Realtor

M:

I am in located in the Northeast Ohio Real Estate Market. Sellers rarely advertise that they are willing to sell their properties based upon a land contract. My suggestion is that you retain a Buyer's Agent to assist you with your real estate transaction. You & your Buyer's Agent can talk about your wants & needs in a home & why you can't purchase a home now & why you think you will be in a position to complete a purchase in 1 year. Some Seller's are willing to consider a land contract (or other deferred purchase vehicles, such as a lease with mandatory purchase) when asked. However, you need to have the ability to provide documentation to the Sellers that you will be able to carry through with interim payments & complete a purchase in 1 year.