Welcome to the Ohio Land Contract Reference Guide.
This site examines how to use a Land Contract (also called a ‘Contract for Deed’) to buy or sell real estate in the State of Ohio.
Land Contracts are a way for a Buyer and Seller to create an agreement on the sale of a home without a third party lender. A Land Contract is often used to sell property between family members, or when the Buyer is not bank mortgage eligible due to credit issues or a lack of downpayment.
Creating a direct real estate transaction without a bank allows the parties to set their own terms: on the amount of the down-payment, the interest rate, the monthly payment amount, the number of months of the contract term, whether or not there is a ‘balloon’ payment due at the end of a short term, and other financial decisions.
Using a Contract for Deed eliminates the need for bank paperwork and many other common bank requirements, like mortgage insurance, closing costs, appraisals, etc.
There are a few key details that a Buyer or Seller should know before entering into a Land Contract in Ohio. On this site you will find:
– legal overviews about a Land Contract and how it may be used in Ohio;
– details on the financial considerations involved with an Ohio Contract for Deed;
– a list of ways to create an Ohio Land Contract, either as a do-it-yourself document or with full-service professional help;
– how and where to file a Land Contract in Ohio after it is signed;
This site also provides information about the requirements set forth by Ohio cities and counties in relation to seller-financed real estate, installment contracts, taxes, insurance and more.
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