Buying property tips?
Okay, I have received more paperwork from the sellers. It looks to me like a land contract. It is titled "Vacant Land Purchase and Sale Agreement". Let me give a few details here. First, the land is being sold by the owners and the owners are the bank, however, the closing, escrow account, etc is being drawn up by Land Title. There is a small amount of earnest money, and appx 15% "down" payment is being paid by us into escrow. I'm wondering if this sounds like a typical FSBO situation. I am strongly considering taking this 4 page contract to a real estate attorney. Does this document sound like a "Land Contract"? We will be signing a contract at closing with the Title Company, so I' guess I'm confused here. Any more insight would be appreciated!!