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General Property Information Legal Description: SUBJ TO ST AND EX E 175 FT THE S 6O FT OF LOT 5 County: Ramsey Postal City: Saint Paul School District: 625 – St. Paul, 651-767-8100 Section/Township/Range: 22/29/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: The Pioneer Real Estate & Buil Common Wall: No Zoning: Residential-Single Accessibility: None […]
For Sale
General Property Information Legal Description: LOT 006 BLOCK 007 CHERRY MEADOWS County: Hennepin Postal City: Brooklyn Park School District: 281 – Robbinsdale, 763-504-8000 Section/Township/Range: 31/119/21 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Cherry Meadows Common Wall: No Lot Description: Corner Lot, Tree Coverage – Medium, City Bus (w/in 6 blks) Road Frontage: City Zoning: Residential-Single […]
Contract for deed
General Property Information Legal Description: LOT 12 BLOCK 3 HIGHLANDS AT RIVER PARK County: Anoka Postal City: Ramsey School District: 11 – Anoka-Hennepin, 763-506-1000 Section/Township/Range: 24/32/25 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Common Wall: No Zoning: Residential-Single Accessibility: None Sensational home in an exceptional neighborhood. This luxury property has been fully updated. 3 […]
Contract for deed
General Property Information Legal Description: SUBDIVISIONNAME LONG VIEW ESTATES 1ST ADDN LOT 003 BLOCK 005 SUBDIVISIONCD 27112 County: Scott Postal City: Shakopee School District: 720 – Shakopee, 952-496-5006 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Long View Estates Common Wall: Yes Restrictions/Covts: Pets-Cats Allowed, Pets-Dogs Allowed Lot Description: Irregular Lot, Tree Coverage – Heavy, City […]
General Property Information Legal Description: SUBDIVISIONNAME WENSMANN 1ST ADDN LOT 018 BLOCK 002 SUBDIVISIONCD 25376 County: Scott Postal City: Prior Lake School District: 719 – Prior Lake-Savage Area Schools, 952-226-0000 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Wensmann 1st Add Common Wall: No Lot Description: Tree Coverage – Heavy Road Frontage: City, Paved Streets, Sidewalks […]
General Property Information Legal Description: SUBDIVISIONNAME OAKWOOD HILLS LOT 003 BLOCK 002 SUBDIVISIONCD 25011 County: Scott Postal City: Prior Lake School District: 719 – Prior Lake-Savage Area Schools, 952-226-0000 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Oakwood Hills Common Wall: No Road Frontage: Cul De Sac Zoning: Residential-Single Accessibility: None Remarks Agent Remarks: Buyer/Agent to […]
Minneapolis and Saint Paul
FIND YOUR DREAM HOUSE TODAY WE HAVE HOMES THRU OUT THE STATE OF MINNESOTA AND WISCONSIN
Steve Vennemann Contract for deed realtor
Contract for deed Financing
How a Contract For Deed Works
Is contract for deed the right option for me?
Benefits for contract for deed
Seller/buyer benefits:
- Both the buyer and the seller can make substantial savings in Closing Costs
- The contract for deed buyer can Negotiate interest rate, repayment schedule, and other conditions of the loan.
- The cd buyer can request special conditions for the purchase, such as inclusion of Household appliances.
- The borrower does not have to qualify with a loan underwriter.
- There are no PMI insurance premiums unless negotiated.
- The seller can receive a higher yield on his/her investment by receiving equity with interest.
- The seller could negotiate a higher interest rate.
- The seller could negotiate a higher selling price.
- The property could be sold “as is” so there will be no need for repairs.
- The seller could choose which security documents (mortgage, deed of trust, land sales document, etc.) to best secure his/her interest until the loan is paid.
- Contract for deed buyers can close on a property within 10days if they choose too. Closing could be faster if they choose not to do a home inspection that usually takes a few days to be completed along with title work.
- Sellers usually require 10% down of the sale price of the house to do a land contract. Credit usually isn’t an issue. We have sold homes to buyers with bankruptcy-short sales-foreclosures-tax liens-short term employment-relocation and much more. Buyers do not have to go thru the whole process of underwriting-appraisals-cheaper closing costs.
Sellers will carry the contract for usually 3-5 years on average. Rates are fixed usually on 30 year amortization schedule.
There are 100s of properties to chose from when it comes to Owner financing.
We recommend Contract for deed Financing over Rent To Own or Leasing.
Home Owner ship verses renting.
The buyers get tax breaks with Contract for deed financing.
- Home Owners get to change the paint.
- Have pets.
- Build equity.
- Sell the home if they choose to and take the equity out.
- Quick closings.
Rent to Own .
It is actually what the name is the Renter rents the properties for a certain period of time with the option of purchasing the house for a set price. Usually a small portion of the Rent goes towards the purchase price.
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