The parties to an Ohio Land Contract can negotiate the allocation of closing costs between them. The land contract can allocate closing costs either fully to the buyer or fully to the seller, or indicate a split of such costs between the buyer and seller. Continue reading Who Pays What Closing Costs on an Ohio Land Contract?
Author: Ohio Law
An Ohio Land Contract Service
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
Do-It-Yourself Ohio Land Contract Legal Documents
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
Ohio Land Contracts and Balloon Payments
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
How to Find Ohio Land Contract Homes
Are you interested in purchasing a home in Ohio through a seller-financed Land Contract? Finding such a property can be a bit difficult, as just 9% of all real estate transactions are done FSBO and only a small percentage of those homes are transacted through a contract for deed. But there are resources available to help you find Ohio Land Contract homes. Continue reading How to Find Ohio Land Contract Homes
If a Buyer Fails to Make Payments on 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
What if the Seller Has a Mortgage Greater Than the Land Contract Value?
Is there a remedy if a Seller has a mortgage on a property that is greater than the value of the Land Contract that a Buyer holds on that property? Continue reading What if the Seller Has a Mortgage Greater Than the Land Contract Value?
General Legal Requirements for an Ohio 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
Ohio Revised Code: Land Contracts
The following is the Ohio Revised Code covering Land Contract transactions on property located in the state: Continue reading Ohio Revised Code: Land Contracts
Amending a Land Contract
Like other contracts, an Ohio Land Contract can be amended by agreement of the parties. Continue reading Amending a Land Contract