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    RKiani's Avatar
    RKiani Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Feb 20, 2008, 08:00 PM
    Land Contract Dilema
    I'm currently in a land contract agreement to buy the house I'm living in,there are a few things that have gone wrong in the house since I moved in(furnance,plumbing) and I informed the title holder of said problems and was told that I am part owner and would have to attend to whatever is wrong myself. Now until I'm able to get a loan to purchase,I'm just a renter(below 600 score) therefore problems of such would the owner's responsibility right? Now I pay an escrow for insurance and taxes and there's nothing in our agreement that says I'm liable for any unforseen problems that occur through time. Help me understand my position in regards to what a land contract covers,thanks.
    progunr's Avatar
    progunr Posts: 1,971, Reputation: 288
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    #2

    Feb 21, 2008, 08:43 AM
    It really depends on what is in the contract.

    As a contract for deed, you are considered a buyer, not a renter, and in most cases, the repairs fall on the buyer.

    Good luck!
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