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 Housing Counsel: Land Sales Contract, A Useful Tool
19-06-2006
There is no question that the real estate market is slowing down. Houses which went under contract within a few days in the past two years are now sitting, sometimes as long as a month or two.
It has become a buyer's market. But many buyers are being priced out of the real estate arena because of two important factors: prices are high and interest rates are starting to creep up.
If the circumstances are right, sellers have yet another option to consider, namely a land sales contract. It is also referred to as a contract for deed or an installment sales contract.
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