How can I protect the seller in a land contract?

[Garrett Jennings]

Hello everyone! I live in Wisconsin, and going to purchase my first rental using a land contract with the seller. I am younger, so he is wanting one of my parent to co-sign on the land contract. What I don't like about that, is that it will effect their DTI ratio, correct? Are there any other suggestions on how I could give the seller some additional security in this land contract, and not worry about having to go through the foreclosure process. Thank you!!

[Marcus Auerbach]

I would be very careful with a Wisconsin Land Contract, as it is very much in favor of the seller. If you miss a payment, even if it is the very last one, the property goes back to the seller within 14 days with no recourse. You have lost everything. I would much rather do a lease with option to purchase, both are WB documents you have access to!