Is seller finances land are they responsible for land upkeep I.e. fences etc until loan paid off?
Thanks for visiting our site and posting on the forum. In regards to seller financing, the terms, conditions and who is responsible for the upkeep of the land really depend on your contract. Sometimes the owner financing contract will dictate that the buyer is responsible for all upkeep just as if he/she was purchasing the land with a loan from the bank, and other times the seller maintains responsibility until the loan is paid off. If you’re not sure what’s in your contract or what local laws are, I would consult with a real estate attorney.
All the best,
315 Madison Avenue, 24th Floor
New York, NY 10017
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.