You’ve found a home in Ohio that you really want to buy. You make an offer contingent on financing.
But then you find out that bank financing isn’t going to happen for you: you can’t qualify for a mortgage loan.
So the Seller offers to finance the sale of the property to you through a Contract for Deed.
For many Buyers, the first question is, “What the heck is a Contract for Deed?” Continue reading An Ohio Contract for Deed
A Land Contract (also known as a Contract for Deed) is a type of Real Estate Purchase Agreement that allows a Buyer to purchase a property directly from a Seller by making some amount of down-payment then monthly payments over time. Continue reading Overview of a Land Contract
What is the law in regards to buying a home by Land Contract in Ohio? Read this overview on the legal requirements set forth by the State of Ohio for Land Contract real estate transactions on any property located within the state: Continue reading General Legal Requirements for an Ohio Land Contract
If the Buyer fails to make a payment or fails to comply with other terms of the Land Contract, the Seller must provide the Buyer with a written Notice of Default. Continue reading If a Buyer Fails to Make Payments on an Ohio Land Contract
It’s quite common for an Ohio Land Contract to have a contract duration of 3 to 5 years with a buyout clause — often called a “balloon payment” — due at the end of that time period.
Let’s examine why that structure is common. Continue reading Ohio Land Contracts and Balloon Payments
An Ohio Land Contract should be filed with the County Recorder in the county where the home resides.
The purpose of recording a Land Contract is to provide “constructive notice” all persons that the Land Contract exists, including any subsequent Buyers, mortgagors or lenders. Continue reading Recording an Ohio Land Contract
The following is the Ohio Revised Code covering Land Contract transactions on property located in the state: Continue reading Ohio Revised Code: Land Contracts
Do you understand the legal and financial considerations involved with buying or selling a home using a Land Contract? Then do-it-yourself legal document software is the most affordable way to create the agreements you need. Continue reading Do-It-Yourself Ohio Land Contract Legal Documents
A Land Contract does not have to be undertaken using a do-it-yourself legal document.
Nor does one party have to take the word of the other that the contract is written fairly to both sides.
Or guess that the Deed transfer will be done correctly at closing. Continue reading An Ohio Land Contract Service
So what does a well-written Ohio Land Contract look like? What legal language is included? Let’s take a look at the key provisions of a strong sample template. Continue reading Sample Ohio Land Contract Template