Advantages of a Contract For Deed
1. It is a great alternative for those who do not qualify for a mortgage. If you cannot qualify for a mortgage due to some issues, such as unemployment and past bankruptcy, Foreclosure, Short Sale, Lack of Credit-Self employed, this agreement serves as a great alternative. Contract for Deeds are flexible the buyer and sellers negotiate the terms of the sale of the house.
No origination Fees,No Points,No Appraisal Fees,No Lender Fees at all No Mortgage insurance
Tax Benefits,Home OwnerShip Rights,Build EquityHave pets
A contract for deed is basically the agreement to sell and buy a real estate property wherein the seller will hold the title until the time when the contract’s provisions have been filled, usually upon full payment of the property. In this case, the buyer may already occupy the property and make the payments as stipulated. Upon completion of payment the seller will pass the title by recording the deed.
