A Better Approach to Installment Contracts
As interest rates rise, more sellers are financing the sale of their real estate at lower-than-market rates and with less money down. Transactional attorneys are therefore being asked with some regularity to prepare installment agreements by which the client is either purchasing property from a seller on an installment basis or selling property and self-financing the purchase over time. For more than 30 years, real estate attorney Gary Gehlbach has routinely refused to structure transactions using installment contracts. To learn why he recommends an outright sale structured on purchase-money notes and mortgages (or trust deeds), read his article, “A Better Approach to Installment Contracts,” in June’s Illinois Bar Journal.
Read more in the June issue of the Illinois Bar Journal.