I am considering selling with a Contract For Deed.
Does the new Buyer pay Taxes and Insurance?
Or do I as the owner until it is paid in full responsible for the taxes and Home Insurance?
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I am considering selling with a Contract For Deed.
Does the new Buyer pay Taxes and Insurance?
Or do I as the owner until it is paid in full responsible for the taxes and Home Insurance?
Yes! A contract for deed is a negotiation. Whatever terms the buyer and seller agree to are what prevails. If you put into the contract that the buyer is responsible for taxes and/or insurance and they sign, then that's the way it is.
However, the buyer can't get a tax break for the taxes until the deed is transferred.
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