I have a SFH as a L/O. The people who are interested in the property don’t want a L/O. but a land contract. I have an existing loan on the property. Is there an issue with setting up a land contract(I’m in Ohio by the way) and selling it this way? I would probably do something like a 5-7 yr loan and then have them refinance at the end of that term. Thanks in advance for the advice.
Every type of owner financing carries some risk of the DOS being called, even L/O’s.
As to the LD, ask your legal counsel, as every state is different. Biggest issue is you’d probably have to foreclose rather than evict.
I’d have to ask why they want a LD over a L/O.
Raj