Contract for Deed

Creative financing??? What about a Contract for Deed. What is it and how does it work?

A contract for deed is an agreement to sell property in which the seller delivers the title after final payment is made. It sometimes can be offered by a buyer who has difficulty obtaining a mortgage loan however they are able to show that they have income to make the monthly payments. Usually the contract is for a few years with a balloon payment, for which the buyers normally get a mortgage to pay off the balance.

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