One thought on “whats a contract for deed and how does it suppose to work?

  1. A contract for deed is way to buy property for those who cannot qualify
    for a regular mortgage. The buyer signs a contract for purchase of the
    property, agreeing to pay so much per month for the required number of months, but unlike the buyer with a regular mortgage, does not acquire title to the
    property until the very last payment due under the contract is finally made.

    And, in the meantime, if the seller happens to die before the contract can be
    paid off, the seller’s heirs receive the property since title would’ve remained
    with the seller under these circumstances and the buyer would likely
    get little more than a notice to vacate.

    Contract for deed obviously is not a very desirable way to purchase

    Michael E. Hendrickson
    Attorney & Counsellor at Law
    211 North Union Street Suite 100
    Alexandria, 22314

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