Welcome or Register

As a resident of the Mendocino Coast for the last 42 years I have learned about a diversity of neighborhoods, local micro-climates, problem areas, as well as areas that produce the best investments.

As a Broker Associate and consistent Top Producer for Century 21 Seascape Realty in Mendocino during the last twenty eight years I have gained the most important ingredient to help you succeed, Experience!

As a husband, father to five (grandfather to 6), and a homeowner I bring a realistic and positive prospective to my real estate activities.  Please let me know what I can do for you!

My clients deserve to be able to easily reach me at any time to answer questions they may have.  Go ahead, try it!  707-937-9220, I'll pick up the phone!

Back to Table of Contents

Land Contract

An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land contract buyer on fulfillment of the land contract obligations.

A land contract can be helpful for those who need time to establish or improve their credit rating. There are only small closing costs, and payment can help establish a good mortgage payment record. This can help establish an overall good credit rating, and it is possible for the buyer to later refinance the land contract with a conforming loan.

On the other hand, there are risks associated with land contracts. Land contract purchases are not necessarily recorded in the public record, and there are no guarantees that the seller will be able to transfer a clear title to the buyer upon fulfillment of the land contract. There also is no lender assuring that the purchase price for the property is justified, and no inspection of the property’s condition.

Another alternative to a non-conforming loan is assuming the seller’s mortgage. By assuming a mortgage, if the mortgage is assumable, it is possible to save on closing costs, and may allow you to obtain a favorable interest rate.

Back to Table of Contents

Testimonials

Scott Deitz is a professional realtor. This was not the first time we have worked with Scott. His judgment and guidance through the sale of our property was superb. We give him a 5 star rating! He served us very well once again. Cliff Snelling
View All

CENTURY21® Fine Homes & EstatesMLS membershipREALTOR® certification

Real Estate Websites by iHOUSEweb iconiHOUSEweb | Admin Menu