A Buyer and Seller who plan to work under an Ohio Land Contract must agree upon several items of financial information before they can undertake their seller-financed real estate transaction. Continue reading Financial Information to Create an Ohio Land Contract
Category: Financial Considerations
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
After the Land Contract is Paid
After the vendee (or buyer) makes the final payment on the Land Contract, the vendor (or seller) must convey ownership of the property to the buyer by signing a deed and delivering that deed to the buyer. Continue reading After the Land Contract is Paid