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Updated over 8 years ago on . Most recent reply

Joe Attard's profile image
Joe Attard's profile image
Joe Attard
  • Investor
  • from Commerce Township, Michigan
  • Member since Jun 19, 2014
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Joe Attard's profile image
Joe Attard's profile image
Joe Attard
  • Investor
  • from Commerce Township, Michigan
  • Member since Jun 19, 2014
Connect
Joe Attard
  • Investor
  • Commerce Township, MI
1
Votes |
8
Posts
Private Lending & Conventional Mortgage Advice

Land Contract - Michigan

Joe Attard
  • Investor
  • Commerce Township, MI
Posted

Looking for advice or Michigan based attorney to help structure land contract for multiple properties.

  1. We own the houses with Deed in hand (no banks)
  2. Default on one property would void LC for entire bundle.

We have settled on 15% down.  We are trying to determine if 15% (35k+) is enough to protect us in the case the buyer defaults within 1-2yrs.  What is the timeline/cost to repossess the properties through court?

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