SIC Code 6541-04 - Land Contracts
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SIC Code 6541-04 Description (6-Digit)
Land Contracts is an industry that involves the buying and selling of real estate through a type of financing known as a land contract. This type of contract allows the buyer to make payments directly to the seller, rather than obtaining a traditional mortgage from a bank or other financial institution. The seller retains ownership of the property until the buyer has paid off the full purchase price, at which point the title is transferred to the buyer. This industry is often used in situations where the buyer may not qualify for a traditional mortgage, or where the seller is looking for a more flexible financing option.
Hierarchy Navigation for SIC 6-Digit Code 6541-04
Parent Code (less specific)
Tools
- Land contract forms
- Real estate purchase agreements
- Promissory notes
- Deeds
- Title searches
- Property appraisals
- Home inspections
- Escrow services
- Notary services
- Legal services
Industry Examples of Land Contracts
- Residential land contracts
- Commercial land contracts
- Land contracts for vacant land
- Land contracts for rental properties
- Land contracts for leasetoown properties
- Land contracts for mobile homes
- Land contracts for farms
- Land contracts for waterfront properties
- Land contracts for properties in foreclosure
- Land contracts for properties in need of repair
SIC Code 6541-04 - Land Contracts
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