A contract in which a purchaser of real estate, upon making an initial payment, agrees to pay the seller stipulated amounts at specified intervals until the total purchase price is paid, at which time the seller transfers his interest in the property.
Webster's New World
Land Contract Sentence Examples
Homes for sale where the seller is willing to finance the buyer means that beyond the down payment, the seller will carry the mortgage, promissory note, land contract or enter into a lease to purchase agreement.
Other sellers will finance the entire purchase price, less the down payment and closing costs, or enter into a lease-to-purchase or land contract.
Interest - If you enter into a lease-to-purchase or land contract where the seller doesn't charge interest, you will receive no mortgage interest statement to utilize as a tax deduction.