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Don Ernle
PIMA CANYON REALTY

Tucson, AZ 85711-5313
Phone: 520-907-2682
Email: DON@DONERNLE.COM

Thank you for visiting today. If this is your first visit, take your time and look around. I have plenty of information and resources available to you. If you are a return visitor, thank you. I would love to hear from you and tell you how I can serve all your real estate needs.

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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.

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Testimonials

Don represented us thru the entire process, not just the paperwork, he kept us informed and was present for the inspections, the septic certification and the final walk thru inspections despite the great distance out of the Tucson area he had to travel. I highly recommend him. Cathie & Paul Neuber
Very professional and punctual service. A true communicator. Always available to serve our family needs in Real Estate. Bill & Arlette Penn
Don is very nice to do business with and I have no reservations in recommending his services. Lee R. Caruth
I had been looking for property to fit my needs for 2 years unsuccessfully. Don found exactly what I was looking for in just 2 WEEKS. I cannot recommend Don Ernle highly enough..... John C. Sweeney WA6PBD
I recommend Don Ernle to any picky home buyer. He patiently showed my family 150 homes, some of which we visited multiple times, as we shopped for our home. Don is extremely knowledgeable and was able to point out the good and the not-so-good features of every home we visited. Don started out as our Real Estate agent and became our friend. When it's time to sell our home, we will call Don. Diane Zimmerman AA3OF & Robert Zimmerman KB3IWD
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