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Land
Contract is a great way to build up down
payment or resolve credit problems before going
for permanent financing. Schalmo Builders Inc.
and KGM Limited buy used homes in the Stark and
Summit County areas. Homes range in price from
$80,000 to $190,000 and can be purchased in "as
is " condition. The homes are offered for sale
by land contract. A land contract is a contract
between the buyer and seller of the property and
it outlines all the normal provisions for the
sale.
With a land contract; a down payment is usually
made, then equal monthly installments of
principal and interest, or interest only, and
real estate taxes are paid to the seller.
Interest and taxes are deductible for federal
tax purposes by the buyer. Normally it takes a
period of 18 to 24 months for a buyer with
marginal credit to refinance the property and
take full ownership. In the meantime, the buyers
take possession of the property and treat it as
their own, covering all expenses. Using a land
contract to buy your home, allows you the buyer
to build your credit over a period of time
enabling you, with our help, to secure
financing.
We enjoy helping people who have had credit
difficulties purchase a new home. Call us
toll-free at 1-800-728-7122 for additional
details. You can fill out the application and
bring it in along with your application fee to
our office located at:
464 Etheridge Blvd. Canal Fulton, Ohio, 44614 |