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Land Contract Homes Sales in Michigan
Land Contract home sales in Michigan at times reflects about 18% of the annual homes sales across the State.  Land Contract home sales in Michigan are popular because Michigan has favorable laws regarding this type of home sale, and it provides an option for buying a home if your credit standing is in poor condition.
A Land Contract (sometimes called a ‘Contract for Deed') is essentially a private sale of a home where a down payment is made, and monthly payments are made to the seller which include interest and principle.  When the contract is fulfilled the seller is legally obligated to transfer the deed to the buyer.  Sounds simple enough doesn't it? 
There are many aspects of this that make is a desirable transaction for the buyer, as mentioned above if they have poor credit.  However, what many buyers who read this or other articles about Land Contract home sales in Michigan sometimes fail to understand is that credit worthiness is an indicator of responsible conduct, and a credit report and credit score reflect a pattern of performance with finances. 
So although a seller is a private individual, and not a lending institution, they still are going to expect proof ... more

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