When you do that your are required to comply with all the federal regulations whether you've funded 1 loan or a million. You become a mortgage lender.
If you decide to do that check the buyer out. Full credit and back round checks. Huge down payment so the buyer has some incentive to keep his end of the deal.
Search the archives for horror stories and get a contract that protects you. Stories like: buyer buys property on contract, logs it, strip mines it, creates a garbage dump, dumps radioactive waste, etc,etc, etc, and then disappears leaving you with worthless property at best and responsible for cleanup and lawsuits at worst.
Local true story involves guy buying a property and hauls in over 1000 yards of dirt and fills in a low lying area on his property. This created a huge drainage problem for the subdivision upstream. Flooding and lawsuits followed. Buyer quit making payments, bank foreclosed, subdivision ended up paying 40K to have drainage repaired and are now suing to get money back. County got involved, after that fact. No one complained, per the county, over the months it took him to haul and spread the dirt.
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Today's Featured Article - Third Brush Generators - by Chris Pratt. While I love straightening sheet metal, cleaning, and painting old tractors, I use every excuse to avoid working on the on the electrics. I find the whole process sheer mystery. I have picked up and attempted to read every auto and farm electrics book with no improvement in the situation. They all seem to start with a chapter entitled "Theory of Electricity". After a few paragraphs I usually close the book and go back to banging out dents. A good friend and I were recently discussing our tractor electrical systems when he stated "I figure it all comes back to applying Ohms Law". At this point
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