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Land Contract Homes Meaning. Developers advertise and sell tracts of land similar to the process of selling a real estate. The words “under contract” don’t necessarily mean that a property sale is a done deal.
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A land lease isn’t a standard home purchase—there are some. Specific dates are seldom identified, other than the date the offer is made and the date it is accepted. A land contract is an agreement between a buyer and seller pertaining to a specific tract of land.
A land contract is a real estate transaction in which a buyer finances a property by making installment payments to the seller.
Serving buyers & sellers of unique homes & land. Specific dates are seldom identified, other than the date the offer is made and the date it is accepted. With a land contract, the seller keeps the deed to the property until he or she secures all or part of the purchase price. The land contract is not a contract for residential building work within the meaning of the home building act 1989 (nsw).
