Seller Finance- Structure/ Title Question

[Jay Jonez]

Hi, I have a silly question I am located in Metro Detroit . I have a seller who has accepted the terms to the seller finance deal its a Win-Win situation. Im ready to have them sign but previously I purchased with Hard Money/ Private Money so I just use a Purchase Agreement and send to the title company. 

Since this is seller finance is this considered a land contract when I tell the title company or would this be different? 

Want to make sure I have the right paperwork 

[Chris Seveney]

@Jay Jonez

What terms did you agree too? Is it a land contract or traditional mortgage and note.

That’s what title company will ask so they can create the documents

If you are the buyer then you absolutely do not want a land contract and want property conveyed to you with title insurance