All Forum Posts by: A.j. Silva

No. Just utilities.

@Mitch Messer Thank you–this is very helpful. This is my first real estate purchase and I'm learning what to fight for in this type of deal. That being said–I'll be sure to only move forward if I get the deed.

I'm looking to purchase 1.9 acres in the greater Phoenix area. Seller-financing is the only option for me as my income is through my LLC which isn't older than two years. The seller is asking for $40,000 down which I am able to pay in cash. The total price the seller is asking is $195,000.

However, I've read that lands contracts can exist where I'm not given the deed to the home until the loan amount is paid in full ($155,000.) Is there a way to protect myself and recoup any of my equity  (downpayment and any construction I plan to do) if the property by chance forecloses? Even if I am deeded the title at closing, am I able to recoup any equity in cases of foreclosure?