Land Contract

An alternative to a non-conforming loan is the use of a land contract, which is allowed in some states. A land contract is an agreement between a buyer and a seller, where the buyer agrees to make periodic payments to the seller. The title to the property only transfers to the land contract buyer on fulfillment of the land contract obligations.

A land contract can be helpful for those who need time to establish or improve their credit rating. There are only small closing costs, and payment can help establish a good mortgage payment record. This can help establish an overall good credit rating, and it is possible for the buyer to later refinance the land contract with a conforming loan.

On the other hand, there are risks associated with land contracts. Land contract purchases are not necessarily recorded in the public record, and there are no guarantees that the seller will be able to transfer a clear title to the buyer upon fulfillment of the land contract. There also is no lender assuring that the purchase price for the property is justified, and no inspection of the property’s condition.

Another alternative to a non-conforming loan is assuming the seller’s mortgage. By assuming a mortgage, if the mortgage is assumable, it is possible to save on closing costs, and may allow you to obtain a favorable interest rate.

Brian Grimm

Co-Founder | Realtor®

Primary phone
(303) 807-6923
License Number
#100069566
Email
[email protected]
Address
4610 S Ulster St, #150,
Denver, CO 80237

About The Author

A Colorado native going back three generations, Brian was born and raised in Littleton and has lived in Douglas County for over 20 years. He primarily serves his hometown, Littleton, and also serves Highlands Ranch, and Castle Rock.

Brian’s wife Sarah Grimm became licensed in 2003 and was his guide into the real estate industry. He started working as her unofficial assistant, giving him the chance to gain unique hands-on training in the field by being involved in the business, even if not in an official capacity. He learned the ins and outs of the job by creating marketing plans, meeting clients, and even installing open house signs.

In 2015, Brian and Sarah decided to become partners. Once licensed, they formed the boutique brokerage Luxe Living. Sarah served as Brian’s managing broker for three years while continuing his training. Unfortunately, Sarah had to step down to take care of her health, so Brian took over her former position as managing broker.

Brian’s favorite part of the job is assisting clients and agents alike. He takes pride in being a trusted guide to people experiencing a significant upheaval or transformative change. Brian is a communicative, supportive, caring, and hard-working professional who can simplify what can appear to be a complex process.

By giving his clients clarity, he empowers them to make crucial decisions with confidence. Brian does this by asking questions, spending time with his clients upfront to find out what their goals and motivating factors are to keep them on track. As a former electrician, Brian also offers years of residential construction experience. In 2020, Brain was awarded the 2 Carat Diamond Award by the South Metro Denver Realtor Association, and in 2021, was awarded the 3 Carat Diamond Award.

Living in the beautiful mountainside with his wife and adorable twin children, Brian loves the relaxed lifestyle, friendly people, and abundant outdoor activities. He enjoys spending time with his family, hiking, mountain biking, fishing, and snowboarding. During baseball season, you’ll often find Brian at the Coors field cheering on the Colorado Rockies.

Brian and his wife, a two-time cancer survivor, are passionate advocates for the Believe Big Organization and the American Cancer Society. They donate a portion of all of their transactions to these foundations.