Contract for deed

snowmannn06 · #1 Sep 21, 2006, 09:56 PM

Selling and wondering what steps to take over and above my realtor?

Thanks

excon · Sep 22, 2006, 07:54 AM

Hello snow:

Only one - hire a lawyer.

excon

Dr D · Sep 22, 2006, 09:20 AM

If the subject property has an underlying mortgage that will not be paid off, check you loan documents to make sure that such a sale will not trigger a Due on Sale Clause, which could cause a nasty situation for you and the buyer. One advantage of selling an investment property in this manner is that capital gains can be spread out over several years.

snowmannn06 · Sep 23, 2006, 10:31 PM

I have made my mortgage company aware of this situation. It will not pay it off. But help ALOT

Thanks



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