Ive done it both ways for clients over the years plus bought and sold myself, and as an attorney I'll give you a simple answer:
Its in the best interest of the Seller TO CONVEY IT BY DEED FOR CASH. That way youre done with it and the property taxes and worry and liability or risk of loss etc etc and you have your money.
In the event of a Conditional Land Installment Sale Contract. Its best for Sellers to NOT even have the contract recorded and if possible get a Quitclaim Deed from the Buyer in case of default. HOWEVER for the Buyer you want it recorded and a deed placed in escrow if possible
This subject can fill entire law libraries so seek professional legal advice NOT from chat boards or lay persons is my best free legal advice.
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