An arrangement in which the owner of real property sells property to a purchaser and extends credit to the purchaser is known as ________.

Question

Quizplus · Accepted Answer

A land sales contract, also known as a contract for deed or installment sale agreement, is an agreement between a seller and buyer in which the seller finances the purchase of the property. The buyer makes payments directly to the seller until the purchase price is paid in full, at which point the seller transfers ownership of the property to the buyer. This type of arrangement is often used when a buyer is unable to obtain traditional financing, and can be risky for both parties if the terms are not carefully negotiated and documented.

An Arrangement in Which the Owner of Real Property Sells