The
only way to sell your house on land contract.
The
only way to sell your house on land contract.
When you advertise your home on our website, you’re house is being viewed by the thousands of people who’ve been shut out of the market by the crisis in the mortgage industry. These people need to buy a home, and they need to look at homes that the owner is willing to sell on land contract or lease/purchase option.
The Land Contract Store attracts buyers to our website through cooperative agreements with other real estate professionals & agencies. Our promotional efforts are supplemented with an extensive advertising campaign on television, radio, print and outdoor (billboard) advertising.
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Offering to sell your house on land contract attracts good buyers.
Our Fee Structure
Consultation with Sellers & Financial Preparation for Negotiations with Buyer
Includes development of
Rate
& Term Options
One yard sign.
Step Two: Contract Processing & Closing
Credit Report/Application
$50 Buyer
pays at time of application
Title Search
$100*
Processing $500
Attorney/Document
Preparation
$225**
Recording/Filing
$50***
Total Processing & Closing $925
*
additional title insurance available at buyer’s discretion & expense
** this rate
available from attorneys on our referral list
***add $8 p/pg over 3 pages
Step Three: Monthly Management
A monthly fee will be added to the buyer's monthly installment for management of the contract. The buyer will choose one of the two following options:
Option 1: Buyers who choose to have The Land Contract Store to electronically deduct their payments from their bank accounts (via 5th 3rd Bank 53 Direct) will be charged a flat monthly fee of $45.00.
Option 2:
Buyers who choose to pay monthly by check will
be charged a monthly fee equal to .1% of the sale price for monthly
management and enforcement of the contract. Although higher than the
electronic option, this
is still less than the buyer would normally pay for private mortgage insurance.
OPTION 2 EXAMPLE:
Sale Price
Monthly Management Fee
$95,000
x .1%
=
$95
Minimum Monthly Fee
$50
Maximum Monthly Fee
$140
The Land Contract Store will charge a $25 late fee for any payment not received within three (3) days of due date, or if there are insufficient funds available when electronic debiting is ordered on the first of each month.
Home sellers have the option of charging an additional late fee, which would be a provision of the land contract or contract for deed documents.
The Land Contract Store LLC is bonded and
insured to protect funds received, disbursed and escrowed
Escrow & bookkeeping services provided by
