www.ronorr.com http www.iquestionmark.com http free list of rent to own homes www.Contract4Deed.com free list of contract for deed homes http free list of available rto/cd homes www.BankOwnedForeclosure.com free list of foreclosure homes http Bid on loan interest rates Contract for Deed part 5 What are the CON’s for a Seller on a Contract for Deed: The part about a contract for deed that’s not as good for a seller is that it can take 60-90 days to get the buyer out of the property if they default. They have to go through 60 days of defaulted payments, and then cancel the contract and go through the legal steps to force out the buyer who would have defaulted on the paperwork. This 60-90 days is much longer than about the standard 3 weeks it takes to evict a renter. The other bad part for a seller is if they get very little money down, it isn’t enough to pay agents or for the potential damage or time it takes to get rid of the buyer. Other disadvantages for the sellers of a contract for deed is they are giving up tax write-offs and depreciation to the new buyer, this may not be a good deal unless they are getting something from the buyer in return, like a future sale, or a large down payment, or cashflow from a high interest rate. The seller is also giving up ownership to the new buyer, who can now take that house and make it there own. One thing a seller will want to realize when selling on a contract for deed is they will want to pay special attention on how it will …
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