Insurance and Taxes on a Land Contract

[Jerrad Carranza]

If I were to sell a property on land contract, how do I ensure that that the buyer maintains homeowner's insurance and stays current with property taxes?

[Steven Hamilton II]

Jerrad Carranza,

You could either escrow the payments for them or you could just check in on it every so often to be sure. They should be listing you as a lender on the insurance policy. You would then be notified if the policy lapses or is cancelled. Most counties allow you to look up the payment status of a property.

-Steven