Land Contract Attorneys in Flint
Real estate contracts can be extremely complex and difficult to navigate, especially if you do not have an in-depth understanding of the field of real estate law. When you have to make a decision or go to court about any contractual issue, you need to have an experienced Flint land contract lawyer.
At CF Legal, PC., our real estate litigation attorney understands the various problems that may arise and we are here to assist you with Michigan land contract laws. We are highly trained and experienced in the field of real estate law and litigation, providing you with the representation you need.
For skillful counsel on a land contract purchase agreement in Michigan or selling a home on a land contract in Michigan, contact CF Legal, PC. online or dial (810) 232-1112 for a free consultation.
What is a Land Contract in Michigan?
A land contract represents an agreement between buyer and seller. In this agreement, while the buyer purchases the property, the seller continues to own the title of the property until meeting the contract’s terms. Michigan land contracts must be in writing to be enforceable.
During this time, sellers will continue to pay the mortgage and taxes on said property. The buyer would have use of the property as according to the contract. Buyers would be required to maintain it as an owner would.
Land Contract Terms Available
- Tax advantages for the seller in receiving installments vs. a lump sum payment
- Regular revenue through the buyer’s usage payments
- Potential ease of sale for the property compared to a traditional real estate sale
- The option to take back the property through forfeiture if the buyer fails to pay
A land contract attorney in Michigan at CF Legal, PC. can go over your options and help determine if a land contract is the best option for your property sale.
Handling Foreclosures & Forfeitures Proceedings
If a buyer reneges on their land contract and you are the seller, you may be able to pursue foreclosure or forfeiture as a legal remedy. Both of these processes can be quite complex, each having its own advantages and disadvantages.
Forfeiture is considered to be easier, more cost-effective, and more efficient. Foreclosure may be more costly and time-consuming, but it can help if you are interested in a deficiency judgment if the buyer is delinquent. Our Genesee County real estate attorney and legal team can help you to make a decision.
Contact our team to learn more about how we can assist you with Michigan land contract laws. Visit our lawyer reviews to see why clients choose our Flint law firm when they are looking for a seasoned land contract attorney in Michigan.
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Contact a Skillful Land Contract Attorney in Michigan
We are here to answer all of your questions, analyze your options, and discuss the possibilities of settlement. Arrange for a free consultation at CF Legal, PC.
If you are interested in setting up an appointment with our Flint land contract attorneys at CF Legal, PC. to discuss your individual matter, call (810) 232-1112 or complete an online form.