: Ensure the right to an independent inspection and a formal appraisal to verify value before signing.

: You do not technically own the home until the very last payment is made.

A (also known as a land contract or installment sale agreement) is a seller-financing agreement where the buyer makes payments directly to the seller rather than a bank. Unlike a traditional mortgage, the seller retains the legal title to the property until the final payment is made.

: Clearly state who is responsible for property taxes and homeowners insurance.

: Disclosure of any existing mortgages or limitations on the property. Critical Steps for Buyers