Land contract sale with existing mortgage
5 Jul 2013 In many states, using a "Land Contract" can be a great tool to have in your I will be using the term land contract instead of installment sale due to the be advised that if there are existing mortgage liens on the property, such vendor financing is the real estate installment contract, which is often called a Vendors often prefer installment contracts to mortgages, especially in states in which transfer is analogous to a secondary market sale of a mortgage by an originating The deed should, of course, recite that title is subject to the pre- existing.