So it looks like land contracts will require a judicial foreclosure in the state I am targeting (Kentucky) and since I am targeting land deals $25K and under I am thinking land contract sales may not be practical due to the cost of foreclosure. I have been researching land lease purchases and land lease options and want to ask for any input from those that may have used this method to sell land in a target market that requires a judicial foreclosure when a land contact is defaulted on. Has this been workable for others??? Is this a crazy idea??? I'm open to whatever the truth is and just would like to know others experiences with this. Thanks, Jerry
@wallace, when I sell on time, I use a land contract, and don't record a deed until they have paid in full. I've only been in the business for a few months, so I like your idea and hope that someone with more experience can chime in here. Thanks for asking the question!
Paul