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Video instructions and help with filling out and completing land contract form pdf

Instructions and Help about land contract form pdf

Welcome back to this five-part video series about how to structure and buy real estate using creative financing this is video three in the series and on this video I'm going to show you everything you need to know about structuring and buying real estate using a creative financing strategy known as a land contract or contract for deed get ready to learn what it is the pros and cons and how to use it to make money in real estate coming up hey it's Geryon or the nation's leading expert on flipping real estate and if you're new here to make more money and less time flipping real estate so you can live your dream life subscribe to my channel click the bell I kind of get notified when new videos are released just to clarify so there's no confusion mortgage states use a land contract and trustee states use a contract for deed but it's basically the same thing for ease of use on this video I'm gonna just use land contract a land contract is another form of creative financing and it's a type of seller financing if you remember from video 2 in this 5 video series seller financing is when the owner sells you the property on terms and carries or finances some or all of the purchase for you and by the way before I forget all of the links to the videos in this five-part video series will be in the description box below as they're released so you can watch them later now a land contract is similar to regular seller financing except unlike regular seller financing with a land contract you don't actually get the legal title to the property until after you meet the terms of the contract and pay off the balance owed to the seller once paid in full you get the deed but in the meantime while making payments on the land contract you the investor have what's called equitable title to the property this means the owner can sell the property to a third party or subject the property to a lien or encumbrance that would interfere with your interest in the property now the way that you protect your equitable title is by filing with the city or county what's called a Memorandum of land contract this is an abbreviated legal document referencing the land contract itself this memorandum serves to put the public on notice of the buyers interest in the real property without the parties having to publicly disclose and record the full land contract in all of its terms including price so if the seller were to try and sell the property the memorandum of LAM contract would pop up in a title search clouding title and preventing the owner from selling so let's discuss the pros and cons of a land contract but first today's video is brought to you by flipster the number 1 house flipping deal management platform

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