Posted on: 13th Apr, 2010 04:06 pm
the owner of the house has a clear tittle i want to do a contract for deed or owner finance i have a realator working for me i have a bout six month to a year before i can get a loan from a bank . i was thinking if i give 8,000 down on a contract for deed or have a payment plan give a extra 1000 dollars a month wich one would work better owner finance or contract for deed he wants 250,000 im willing to buy for 260,00 if i could make payments on the down payments =any suggestions
Just have your realtor write up a sales contract and your attorney create a note/mortgage agreement between yourself and the seller. There WILL be an interest rate involved.