L/O Versus Owner Finance
If you do owner finance (or Land Contract) how does the process of getting the property back, should the buyer default?
I was under the impression that a land contract or "installment contract" allows the buyer to take the tax advantages as an owner by deducting the interest But it protected the seller Should they default, then it would be like an eviction and not a forclosure. Therefore you could get your property back in 30 to 60 days instead of 90 - 210 days.
Thanks in advance for your replies.
Ron
Thank you for the reply.
I am in the process of taking a course to obtain my real estate license and just covered this. They way it is explained is the oposite of what i have read on here and the way I have always understood it.
Ron