Home Selling in 49047>Question Details

Rickey Phill…, Both Buyer and Seller in 49047

can i sell a home at any time during a land contract as long as it gets paid off?

Asked by Rickey Phillips, 49047 Mon Oct 22, 2007

i have this 2 story home that i am getting on land contract but was wandering if i decided to sell it if i could

Help the community by answering this question:

Answers

3
Typically, depending on the provisions of the contract and area laws, the buyer has the right to sell to another purchaser, so long as he has not been prohibited from doing so in the contract.

At closing, the current buyer will pay off the land contract to the original owner, then do a deed transfer to the new owner.

Again, this may vary state to state, so it's best to check with a real estate attorney.
1 vote Thank Flag Link Mon Oct 22, 2007
Check with the attorney that drafted the contract, they would know what they wrote into it. I believe that as long as the contract bearer gets their money, you should be fine.
0 votes Thank Flag Link Wed Mar 26, 2014
The answer is going to depend upon the terms of the land contract you entered into. Look it over carefully to see if you are prohibited to selling it without going back to the person you purchased it from. In any even the contract would have to be paid off.
0 votes Thank Flag Link Mon Oct 22, 2007
Pam Winterba…, Real Estate Pro in Danville, VA
MVP'08
Contact
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2016 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer