Land Contract Or Subject-To?
I own a small three bedroom home that is section-8 approved and currently "vacant". It is being rented by a family friend which covers the mortgage giving me time to locate a buyer. I am somewhat of a tired landlord and is not interested in doing another section-8 rental now.
The balance on the mortgate is 67K, at 11.85% interest with payments of $671.00 per month. I am not too particularly interested in going to a real estate agent because of past negative experiences. What is the BEST and FASTEST and safest way to sell? Land contract OR Subject-To?
If a buyer defaults which method provides the best method for eviction without claims of equity?
Thanks!
Land Contract would be your best bet it would allow you to keep title until the buyer refinances or pays you all of the payments.