Land contracts- need some info

I have kind of a weird situation that I need some help with. Seller was going to originally lease option 4 properties to me (multifams) and I would buy after 2 yrs. Now she doesn’t want to do that and would rather just let me take over the payments sub2 and sign over the deeds. She’s happy to do that once I’ve paid her what she wants in cash, she wants $35k. Now, I don’t have the $35k to do this so I’ve offered her a note for that much that can be resold after it’s seasoned some (I have a broker already lined up to find a buyer for the note) but she doesn’t want to do that either. I was looking to have her sign the deeds over, I start paying the mortgages directly and pay her on the $35k note until it’s paid. She doesn’t want to sign the deeds over until she has her money, understandable I suppose. I myself don’t want to start paying mortgages until I have some assurance that she won’t sell them out from under me after I’ve made a bunch of payments so I wanted to deeds in my hand first. See the problem, we both want to hold the deeds to protect our own interests. I think a land contract will help this by allowing her to hold them and having a document in place that will guarantee their transfer at the right time. Anyone have any information they can provide that will help me with this as I am unfamiliar with land contracts? Anyone see any issues that could come up here?

Also, these will be refinianced into my name when I can get some cash together (next 6-12 months). And if it matters this is for 4 seperate properties with 4 seperate deeds. And also if it matters it is in Connecticut.

PS- This woman goes back and forth between utterly motivated to non-motivated so many times in one week that I want to kill her. I don’t understand her problem, she’s living out of state now and can’t manage them and is getting a fair price.


Use a Contract for Sale of Real Property aka/ Land Contract with the terms of purchase outlined. You will also need to sign Promissory Notes, which will show as an Exhibit in the Contract for Sale.

Have her sign the Deeds and place them in Escrow with an Attorney to be released when you finance the properties. Record the Contracts for Sale so the titles will be clouded for your protection and prevent her from selling out from under you.

An Attorney can set this up for you where all parties are protected.

Sounds good John. I’ll see what I can do. I’ll report back if I have any questions.


Check your email and any help required just let me know.

John $Cash$ Locke

Got the doc, thanks. It looks like it will be a great help to get me started.