ContractsInstallment_contracts_and_land_contractsMEDIUM
Why might a buyer choose a land contract over traditional bank financing?
Correct Answer
A) The buyer may not qualify for traditional financing, and seller financing offers more flexible terms
Buyers who cannot qualify for traditional bank financing may use land contracts because sellers can offer more flexible qualification requirements.
Answer Options
A
The buyer may not qualify for traditional financing, and seller financing offers more flexible termsB
Land contracts require no payments at allC
Land contracts always have lower interest rates than banksD
Land contracts provide immediate legal title to the buyerWhy This Is the Correct Answer
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Why the Other Options Are Wrong
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Background Knowledge for Contracts
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Real World Application in Contracts
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Related Topics & Key Terms
Key Terms:
installment_contracts_and_land_contractsfinancingflexibilityqualification
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