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Walnut Grove, MN. | what it is is they pay you a monthly price instead of they paying a bank or a mortgage company. you can get a down payment at signing i think we even for first months rent to. in the contract it say all that they are responible for like home owners insurance, realestate taxes, things like that. the house would stay in your name until they paid the contract in full. so if they defaulted on the contract you get the money they paid you and the house. i dont know if that makes sense but that my understanding of a contract for deed. the main thing is have a lawyer draw up the contract. | |
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contract for deed.
