Money Matters
buckyfan30
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Land contracts..
Who can tell me about Land Contracts?
Thank you to those who read my post. I removed my full story because I didn't want to leave up a lot of personal information. If anyone does have experience with land contract and wouldn't mind sharing please do so. Thank you.
Re: Land contracts..
Can't help you with much of this. But the rent you've paid is rent and not a down payment. If you want your landlord to help you save a downpayment the norm is for you to pay your rent plus X, where X will eventually be taken off the purchase price.
I'm not familiar with land contracts, but when do you receive the title? Is there any risk of you missing a payment and losing everything> Or of the house staying in your friends name, lets say something happens and he gets sued and you lose it that way? I think I remember Dave Ramsey talking to a caller about this recently who had this happen and there was nothing he could do about it.
I believe you don't receive the title until you have it paid off or you finance in your own name. We were thinking of something like a three year contract until we're ready to finance it in our name. I'm not worried at all about the owner: being sued or losing this house but I suppose that is always a possibility. And that is just a risk we would have to take.