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General Property Information Legal Description: BLOCK 003 HOLDRIDGE 2ND ADDN RGT LOT 10 AND THAT PART OF LOT 9 LYING ELY OF A LINE RUNNING FROM A PT ON SELY LINE OF SAID LOT DIS 120 FT SWLY FROM MOST ELY COR THEREOF TO A PT ON NELY LINE OF SAID LOT County: Hennepin Postal […]
General Property Information Legal Description: CIC NO 0231 WAYZATA VILLA CONDO BLDG NO 205 APT NO 205 AND GAR APT NO 468 County: Hennepin Postal City: Wayzata School District: 284 – Wayzata, 763-745-5000 Section/Township/Range: 06/117/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Cic 0231 Wayzata Villa Condo Common Wall: Yes Restrictions/Covts: Pets-Cats Allowed, Rental Restrictions […]
Contract for deed
General Property Information Legal Description: SUBDIVISIONNAME DIV NO.5 ST PAUL PARK BLK 148-191 LOT 21 BLOCK 171 SUBDIVISIONCD 68448 LOT 21 & N1/2 LOT 22 171 ST PAUL PARK DIV 5 County: Washington Postal City: Saint Paul Park School District: 833 – South Washington County, 651-425-6300 Section/Township/Range: 12/27/22 Rental License Y/N: No Manufactured Home?: No […]
General Property Information Legal Description: SUBDIVISIONNAME CLEARVIEW ACRES JACKSON TWP LOT 007 BLOCK 001 SUBDIVISIONCD 06018 County: Scott Postal City: Shakopee School District: 720 – Shakopee, 952-496-5006 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Clearview Acres Jackson Twp Common Wall: No Lot Description: Irregular Lot, Tree Coverage – Medium Road Frontage: Township, Cul De Sac, […]
General Property Information Legal Description: SUBDIVISIONNAME WILDS,THE LOT 014 BLOCK 006 SUBDIVISIONCD 25297 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: Common Wall: No Lot Description: Irregular Lot, Tree Coverage – Light Assoc Mgmt Comp: Community Development Inc, Assoc Mgmt […]
General Property Information Legal Description: BLOCK 006 MEDICINE LAKE PARK 3RD DIV LOTS 9 AND 10 County: Hennepin Postal City: Plymouth School District: 281 – Robbinsdale, 763-504-8000 Section/Township/Range: 24/118/22 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Medicine Lake Park 3rd Div Common Wall: NoGeneral Property Information Legal Description: BLOCK 006 MEDICINE LAKE PARK 3RD […]
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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Send us a message we can help you find your dream house.