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SD | I was wondering how a contract for deed works? I was looking into purchasing some family ground, but I need to understand a contract for deed fully before I sign.
Can the land go on my balance sheet or is it considered a liability due to the annual payments?
Also, 5-8 years down the road when I have a little equity built in can I mortgage against it, or is this only allowed on bank held mortgages?
Anybody doing or done with a contract for deed? Best and worst case scenarios?
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Contract for Deed
