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Modern Realty of Putnam Inc.
Larissa Ricketts, Broker
881 State Road 20, Suite 3
Interlachen, FL 32148
Phone: 386-684-0930
Email: modernrealty881@gmail.com

Thank you for visiting today. If this is your first visit, take your time and look around. We 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 we can serve all your real estate needs.

Our company serves Putnam County and the surrounding area.  Market is heating and up and listing inventories are down.  You need a good professional agent to help you find the perfect home.  

Our office is Located in Interlachen Florida but we serve all of Putnam County including.... Interlachen, Palatka, Hawhthorne, Melrose, East Palatka, Florahome, Georgetown, Crescent City, Welaka, Satsuma and more.

If you are looking for a waterfront home look no further.  I have fished many of the area lakes and we are very familiar with not only our inland lakes throughout the county but the St. Johns River also.

Looking for investment in Lots or Acreage?  Prices have not been this low in many years so it is a buyer's market.  Look toward the future while prices are down.

We have a wonderful staff of experienced agents to help you.  We treat our buyers and sellers with respect knowing that purchasing or selling is an emotional experience for most people.  The market has changed and we have changed with it.  

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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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