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    ScottandGigi's Avatar
    ScottandGigi Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Mar 10, 2012, 04:51 PM
    Installment agreement
    ,
    "It is very common, I do it all the time, to make a contract to sell a house that I have a lien on. I do a contract for deed and they make payments to me, and I pay my loan, and of course make a little money in return."

    This is exactly what we're doing with our house but I'm not sure about what kind of contract to get for the deed. Should I have a real estate lawyer draw it up? It's a little pricey but is that the best way?
    ballengerb1's Avatar
    ballengerb1 Posts: 27,378, Reputation: 2280
    Home Repair & Remodeling Expert
    		  
    #2

    Mar 11, 2012, 07:45 PM
    This confused me a few days ago but I thought I'd ask a few questions. Doesn't matter if it's common as long as it's legal. Yes an attorney who specializes in real estate contracts is the best way to go.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #3

    Mar 11, 2012, 07:47 PM
    You want an attorney who is experienced to write it up. You want terms in it, so that it is exactly spelled out what each rights are in default and other details.
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