Buying & Selling Real Estate
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/hospitable-deef083b895516ce26951b0ca48cf8f170861d742d4a4cb6cf5d19396b5eaac6.png)
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_trust-2bcce80d03411a9e99a3cbcf4201c034562e18a3fc6eecd3fd22ecd5350c3aa5.avif)
1031 Exchanges
presented by
![](http://bpimg.biggerpockets.com/assets/forums/sponsors/equity_1031_exchange-96bbcda3f8ad2d724c0ac759709c7e295979badd52e428240d6eaad5c8eff385.avif)
Real Estate Classifieds
Reviews & Feedback
Updated over 6 years ago on . Most recent reply
![Joanne Mendoza's profile image](https://bpimg.biggerpockets.com/no_overlay/uploads/social_user/user_avatar/847822/1720298960-avatar-joannem14.jpg?twic=v1/output=image/crop=2143x2143@0x0/cover=128x128&v=2)
What are benefits and risks of a Land Contract w/a mortgage?
I put a Duplex on the market in Michigan and received a land contract offer. It presents itself well like buyer offered over-asking, the interest rate is great and financing for a term of 6 years with a balloon at the end of the term. Buyers are going to use the property as a group home for people with disability and elderly care. Since I've never done one of these, what should I be looking for in terms of risks? What if they don't pay and I end up evicting everyone? Any help would be greatly appreciated.