A land contract is a type of financing also known as a conditional sales contract, a contract for sale, or a contract for deed. This kind of financing is actually an installment sale whereby the buyer gets only the right to obtain absolute ownership to the property.
Title insurance is basically protection purchased by the buyer should any claims, such as liens (leans), judgments, or pending lawsuits, be found against the title once the home is purchased.
|Title insurance endorsement
A title insurance endorsement is extra coverage you can purchase when buying title insurance for your new home. Generally, title insurance is divided into two parts.
|Using an attorney
Real estate attorneys can assist you in the complicated and costly legal process of buying property. Many people hire these attorneys to advise for advise on the wording of contracts, to clarify settlement issues, and help enforce signed contracts in case of dispute regarding responsibility for repairs or other expenses.