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-   -   Contract for deed (https://www.askmehelpdesk.com/showthread.php?t=34823)

  • Sep 21, 2006, 09:56 PM
    snowmannn06
    Contract for deed
    Selling and wondering what steps to take over and above my realtor?

    Thanks
  • Sep 22, 2006, 07:54 AM
    excon
    Hello snow:

    Only one - hire a lawyer.

    excon
  • Sep 22, 2006, 09:20 AM
    Dr D
    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.
  • Sep 23, 2006, 10:31 PM
    snowmannn06
    I have made my mortgage company aware of this situation. It will not pay it off. But help A lot

    Thanks

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