Good question…many homes for sale by land contract are not listed on the MLS because sellers just dont like paying commission before they are free and clear of the home. Say you buy a listed home on land contract, you close two weeks later, 6% of the 10% down payment from the buyer is split by the listing and selling broker. The seller is left with the remaining 4% or so minus closing costs, and a 3-5 year loan to keep track of. “Might as well just rent it and wait for the market to pick up” is something Realtors hear often these days.

I have two answers for you. First, there a lot of investors in town selling homes on land contract. Often a sign in the yard sells a home like that in a good neighborhood and good schools. You’ll want to talk to a Realtor who knows who those investors are, and which ones are worth contacting and which are not. Second, if you have at least a good 10% to put down on a house, look for your ideal home in the ideal neighborhood that is currently for rent, and make an offer. Just because its not listed does not mean its not for sale! And…you’ll want a good Realtor to represent you so you dont get ripped off in terms of value, terms, interest rate, and general business conduct.