Legal Question in Real Estate Law in Ohio

My husband and I live in Ohio and are considering buying a home on a land contract. We plan to put $20,000 down and make monthly payments. I was just wondering if during the period of the land contract, do we have any right to try to sell it later? And if not, would we be entitled to anything we have invested returned. The $20,000 is more than 20% of what the house is plus we would be making monthly payments for several years. I just don't want to sink thousands of dollars into a home and then several years down the road decide we wanted to move for whatever reason and lose everything we have invested. Thanks


Asked on 8/28/09, 11:19 am

1 Answer from Attorneys

Dan Guinn Guinn Law Firm, LLC

It depends on how the contract is written but generally you have the right to resell. I would suggest you have an attorney review the land contract before you sign anything. I would be happy to do this for you.

Feel free to contact me, free of charge, at danguinn@theguinnlawfirm.com or at 330-447-7634. I am happy to help in any way that I can.

Thank you and I look forward to hearing from you.

Dan Guinn

www.theguinnlawfirm.com

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Answered on 8/29/09, 6:41 pm


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