An owner wants to sell a park providing seller financing and wants to do a land contract and put the deed in an escrow account until the park is paid off in full. Is that correct?
Why not get owner financing and the deed now?
The owner may be hesitant to turn the deed over now, some are. But the fact that he is willing to put it into an escrow account would indicate to me that he is not try to pull any “fast ones” with you. He is just looking for some security to make sure you perform.
That’s actually the “normal” way to do a “contract for deed,” which is what you’re talking about. In fact, in my state, an escrow agent is required by LAW to hold the deeds (a warranty deed transferring title from SELLER to BUYER, and a quitclaim deed transferring any interest BUYER has in the property back to SELLER if BUYER fails to live up to the terms of the contract). When the escrow agent sees the contract has been paid in full, the escrow agent automatically records the warranty deed.