View Full Version : Contract for deed
snowmannn06
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 A lot
Thanks