What You Should Know About Land Contracts

land contracts were very popular during the early 1980s when installment sale contracts, also known as contract for deed, offered more attractive financing terms over the higher interest rates and the rigid qualification standards of the institutional lenders.Land contracts began to disappear when the loan requirements began to soften and the interest rates dropped below 8%. Inspite of the decreased requirements and fallen interest, land contracts have not vanished completely, or we can say that they have made a riposte in 2006.

Over the past few years, Gurgaon has experienced a sudden increase in the demand for residential as well as commercial properties and the credit for this boom in the real estate sector goes to the booming economies of IT/ITES sector.As the number of corporate executives and professionals are increasing day by day, the search for property on rent has also reached at the summit. The residential property in Gurgaon is vibrant and positive in nature and Haryana is popularly known for its commercial capital and the software industries. The increased foreign direct investment, large influx of quality manpower and low interest rates has lead to an increase in the developmental activities like corporate retail space, residential and commercial space.