A land contract – also called a contract for deed or an installment sale – is an alternative way to finance a home purchase without a traditional mortgage lender.
How it works
The seller finances the sale directly: the buyer makes payments to the seller over time, and the seller retains legal title to the property until the contract is paid in full (or refinanced into a traditional mortgage).
Why buyers consider it
Land contracts can offer a path to ownership for buyers who don’t currently qualify for conventional financing, often with less stringent credit requirements and faster closings.
Why they require caution
Because the buyer doesn’t hold title until the end of the contract, a default can mean losing both the home and the equity paid in so far, with fewer legal protections than a traditional mortgage foreclosure process. Terms, interest rates, and default provisions vary widely and should always be reviewed by a real estate attorney before signing.
Considering a land contract or seller financing? Call Dockside Realty at 850.225.9785 or email christine@docksiderealtyinc.com and we’ll help you understand your options.