The legal contract in the written form, also regarded as an agreement, which is used for buying a real estate like a house, a vacant land, an apartment, a real property or a commercial building is known as a land contract. This contract is also a form of seller financing. It is kind of a sell private mortgage but unlike mortgage you do not need to borrow money from a bank or lender for purchasing the property, here you have to make the payment directly to the owner of the real estate. Here are a few basics of land contracts:- Selling a House : -The seller and the buyer both sign a land contract for this, which covers all the terms and conditions regarding the sale. If both the parties are satisfied with the terms and conditions which also include the amount of the purchase price and the time period decided for the payment of the amount, the property’s legal title gets transferred to the buyer from the seller via a way of a contract for deed buyer of warranty or some other deed, use