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

    May 1, 2008, 07:58 AM
    Contract to Deed
    Hi there... can you give me some positive things I can tell my landlord when I
    Approach him for purchasing his house we live in for contract for deed... we
    Are great tenants but I would like to make this beneficial for him
    Also... also, who usually pays for the lawyer to draw up the contract? How do we decide on the interest rate? Thanks
    So very much
    JudyKayTee's Avatar
    JudyKayTee Posts: 46,503, Reputation: 4600
    Uber Member
    		  
    #2

    May 1, 2008, 08:02 AM
    Quote Originally Posted by theshys
    hi there....can you give me some positive things I can tell my landlord when I
    approach him for purchasing his house we live in for contract for deed.....we
    are great tenants but I would like to make this beneficial for him
    also.....also, who usually pays for the lawyer to draw up the contract? how do we decide on the interest rate? thanks
    so very much

    I most definitely would not sign a contract drawn up by the other side without my Attorney reading it - the contract is not going to favor you. You would both pay your own counsel.

    As far as interest - the landlord is receiving, you are paying so he will set the interest rates. Not that you can't negotiate but usually you want to pay less and he wants to receive more.
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