[shell9104]

Can you tell me doing a contract for deed on trailer and all states to have home owners and know she tells me after 8 mnths need to reimburse her 300 for the insurance and what I was told my insurance coming I only need renters insurances tell trailer is paid of and the seller needs to keep insurance on the home structure what do do

[shell9104]

What if in the contract of deed it don't state clearly on it who pays the insurance on the home

[Fr_Chuck]

Then it is a poor contract and you should not sign it or use it.

First the seller still owns the property, the seller would be a fool not to control the taxes and he of course has to keep the insurance on the property, if the buyer dropped it, and the house burns down, who is out the money>?

In the contract the seller can ask the buyer to pay them an amount of money to cover property coverage and taxes. ** the buyer will still need a renters policy to cover their funiture since they don't actually own the home.

The idea is to sell the house with a very large down payment, since normally you are selling to someone who can not get a regular loan for some reason. Most contract for deeds never make it to sell.

So make sure the contact is very ( and I mean very ) specific what happens if the buyer is in defuat. If they don't keep property up ( mowed, junk and so on) what happens if they are late. A good contract will convert automatically with written notice from seller if the buyer is in defualt. Then you can evict them if they are not paying

[Fr_Chuck]

Please try and keep all your replys here you posted what appeared to be a question as a answrer to someone else's question. I have deleted that post.

Then you reported your post as being against the site rules, which I don't understand, but in the report you appeared to try and add more info, you have confused me as to what you are trying to say or do.

In one post it appears you already have a contract for deed, in another you are thinking about using one.

You posted in your report of this thread
": i have a trailer and doing contract for deed and now after 8mnths the buyer calls and tells me i owe her 350.00 for insurance and i was told by insurance coming i only need renters insurance tell paid off What to do"


Ok, once written they can only ask for what is in the contract, so they can't add additional charges, if the contract does not state it.

But I see another real issue, are you buying just the trailer or the land and trailer ?
You can't have a contact for deed on a trailer since a trailer does not have a deed. They have a title. You can have a contract for purchase, but this is personal property, not real estate.

[ScottGem]

First its not a good idea to piggyback your question on another thread. This can lead to confusion. So I've moved your question to its own thread and merged them

If you have a follow-up question post an answer to this thread (not use the Report function).

If the contract doesn't specify who pays the insurance, then the Owner of the property would be responsible since, as owner they want their interest to be protected. If the owner is telling you that you need to pay, then you ask her to show you where in the contract it says you have to pay. If its not in the contract, then you don't have to.

P.S. when posting please use full words and sentences. Your post was not easy to read.