![]() While a commercial land contract might be ideal for you, there are important details you need to know, first. Are you familiar with a commercial land contract in Ohio, as well as the state-specific requirements? So, what is a commercial land contract in Ohio? Essentially, a land contract is an alternative financing option if you’re investing in: In commercial real estate, buyers and sellers must be knowledgeable to make informed decisions. Ready to buy or sell your next home? We’ll help you tackle every detail-and ensure you know what to expect.What Is a Land Contract In Ohio? Full Guide There may be other legal remedies available to help you recoup expenses-and, in some cases, compel the seller to go through with your original agreement. If this happens, you’ll very likely be able to get your deposit back. Of course, while it’s less common, there are also circumstances where sellers breach real estate contracts. Lastly, understand the consequences of defaulting on your purchase-and be sure to ask your agent for clarity when need be. For example, a financing condition will allow you to avoid losing your deposit if your mortgage falls through. Carefully select the conditions you want to include (if any). Know that the home you’re bidding on is the one you want. For this reason-and because it’s the right thing to do-you should only enter into a real estate contract in good faith. Needless to say, if you breach your real estate contract, you may not get your deposit back.
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