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General Property Information Legal Description: LOT 5 BLK 8 County: Ramsey Postal City: Saint Paul School District: 625 – St. Paul, 651-767-8100 Section/Township/Range: 28/29/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Terrys Add Common Wall: No Lot Description: Tree Coverage – Medium Road Frontage: City, Paved Streets Zoning: Residential-Single Accessibility: Doors 36″+ Power Company: Xcel […]
General Property Information Legal Description: SUBDIVISIONNAME NOTERMANN ADDN LOT 004 BLOCK 003 SUBDIVISIONCD 27017 County: Scott Postal City: Shakopee School District: 720 – Shakopee, 952-496-5006 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Common Wall: No Lot Description: Tree Coverage – Light Road Frontage: City Zoning: Residential-Single Accessibility: None Power Company: Xcel Energy THIS HOME […]
Contract for deed
General Property Information Legal Description: SECTION 23 TOWNSHIP 114 RANGE 022 SUBDIVISIONNAME SCHUMANN ADDN LOT 004 BLOCK 001 SUBDIVISIONCD 11110 County: Scott Postal City: Prior Lake School District: 719 – Prior Lake-Savage Area Schools, 952-226-0000 Section/Township/Range: 23/114/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Schumann Add Common Wall: No Lot Description: Tree Coverage – Medium, […]
Endless possibilities with this beautiful property with breathtaking views on double-lot with over 95 ft. of level sandy shoreline on Lake Minnetonka. Entertain guests on your large deck overlooking the lake before you embark on a sunset cruise on the open water. Guests can also have an extended stay with their very own private updated […]
General Property Information Legal Description: SUBJ TO RD THE E 82 FT OF W 246 FT OF E 1/2 OF SE 1/4 OF SW 1/4 OF SEC 4 TN 29 RN 22 County: Ramsey Postal City: Maplewood School District: 622 – North St Paul-Maplewood, 651-748-7410 Section/Township/Range: 04/29/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: […]
General Property Information Legal Description: EX W 15O FT AND EX E 15O FT LOT 1 BLK 3 County: Ramsey Postal City: Maplewood School District: 622 – North St Paul-Maplewood, 651-748-7410 Section/Township/Range: 25/29/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Midvale Acres Common Wall: No Lot Description: Tree Coverage – Medium, City Bus (w/in 6 […]
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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