Porscheâs Mission E may be very explicitly a concept carâits exaggerated lines and ridiculous ride height attest to that. But its mission is abundantly clear: This all-electric performance sedan is out for Tesla blood.
A land contract is a written legal contract, or agreement, used to purchase real estate, such as vacant land, a house, an apartment building, a commercial building, or other real property. A land contract is a form of seller financing.
Put every term of the land contract in writing. In real estate, land contracts must be documented in writing to be considered legitimate. The nature of a land contract gives the seller additional protection in case the buyer defaults on the loan. The seller most likely will record a deed or mortgage in the county records office where the property is located. In most cases, the buyer pays a down payment to the seller. In many cases, the seller secures the loan by using the property as collateral. If the buyer defaults, the seller is authorized to foreclose and repossess the property. Further, all payments made under the land contract are forfeit if the buyer defaults.