New eBook Release: Understanding Land Contract Homes: In Pursuit of the American Dream

I recently published my first eBook in Real Estate. It is entitled: 'Understanding Land Contract Homes: In Pursuit of the American Dream'. It is available for sale as an eBook. The book seeks to answer the questions many have about the subject of Land Contract Homes, and how they work. It also addresses what the perfect profile of a Land Contract Home is, and how one should go about finding one.

In the years I have been a Realtor, the most common request for information is where one can find a home for sale on Land Contract or 'Contract for Deed' as it is sometimes referred.  I began writing blog posts about this subject in 2010, including topics local to Michigan where I live, as well as covering many aspects of this type of home sale.

Probably the most common misunderstanding about Land Contract homes is that it is a form of seller financing.  That there really is a specialized use for this type of transaction, and that the seller is in fact extending credit to a buyer, whom in many instances would not otherwise be extended credit.  So the book Understanding Land Contract Homes: In Pursuit of the American Dream has a dual meaning in its title.  It embraces both home ownership, and entrepreneurship in the spirit of the American Dream.

Land Contracts have been in use for many years.  In the 1970's and 1980's they were much more in common use than today across the country, simply because conventional interest rates were skyrocketing during that time period, reaching as high as 18% in some areas.  Land Contracts offered much lower interest rates (usually around 10%) as the seller was the one setting the terms and more accessible for negotiations.  Additionally, conventional lending often required 20% down payment, whereas a independent seller on a Land Contract most often would accept less.

Today, Land Contracts serve more as a bridge-gap for willing buyers who need some time to repair their credit and re-finance into a conventional loan in the future and receive a lower interest rate.  This eBook was written to answer the many questions concerning this subject for both buyers and sellers, and in all hopes help more people experience the dream of home ownership.