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Updated about 15 years ago,
Details of selling on land contract
I am considering selling one of our rentals to the current tenants on a land contract.
My questions are:
1. What is the maximum interest rate that Indiana will allow on a land contract?
2. Does anyone know of a company that will handle the payment collection and disbursement to include taxes and insurance for the Fort Wayne area? I would prefer to have this aspect handled by a 3rd party so there are no disputes if they stop paying and we have to foreclose.
3. Would a land contract sale qualify for the housing tax credit?
4. We would obviously close this with a title company but is there a preferred method for holding the deed until the final payment has been made?
5. What else am I missing?
Thanks in advance for any assistance.
Chris