For deed, with a bank, to access the equity I have in my home, to make up the 7K?

you do not "refi" a contract for deed. You would have to find funding for it, A contract for deed is not financed, it is where the owner is letting you pay them, to pay off the home.

You can go get a loan to buy the home from the owner ( they still own it on a contract for deed) but unless you have a lot of the home paid off, what is the appraised value compared to what you owe,

Sounds more like you need to try to make a lower ball offer, or try to work out another plan to pay the 7000 to buy the commercial property.

Also what are you gong to do with the commercial property, since if you are broke after buying it, you will not have money to start a business

Thanks for answering so quick~ I found your answer slightly helpful but a little condescending... I bought the house for 100K 12 months ago with 20K down, and make regular payments to owner. The appraised value is 126K, I owe 75K. I was just wondering if a bank would do that, because I am paying 5% interest, and prime is lower than that, and if it was not a contract for deed, I would have equity in my home. Does that make sense? It's my first house. I have a bank that will finance my commercial property acquisition if I can find working capital elsewhere, which I am doing. I owned a business for 10 years, and rented, and now I would like to own. I may have to try to negotiate just a little on the purchase price, but don't think it's likely they will budge. Just learning, trying...