Re: Buying land on contract

Posted by Robert on October 15, 2003 at 08:30:53 from (66.250.5.14):

In Reply to: Buying land on contract posted by dhermesc on October 15, 2003 at 06:05:19:

Another word of caution I might add, is that unless you REALLY know the seller, a contract sale is nothing more than a "glorified" handshake, and the seller in some instances, may not even own the land they are selling you, so, at the end of the period, you won't have a deed.
This has happened numerous times over the years here in my part of the world (Central Texas), where buyers would faithfully pay on a piece of property, then try to get a deed to build on it, only to find out that there was still a lien on the land.
My .02 worth---the buyer should always beware!

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