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General Property Information Legal Description: LOT 036 BLOCK 003 CHAMPLIN RIVER PARK County: Hennepin Postal City: Champlin School District: 11 – Anoka-Hennepin, 763-506-1000 Section/Township/Range: 29/120/21 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Champlin River Park Common Wall: No Lot Description: Tree Coverage – Medium Road Frontage: City, Paved Streets Zoning: Residential-Single Accessibility: None Great location […]
General Property Information Legal Description: ST MARTINS WALESWOOD ADDN W 94 FT OF E 180 FT OF LOT 58 AND W 94 FT OF E 180 FT OF S 60 FT OF LOT 59 County: Hennepin Postal City: Bloomington School District: 271 – Bloomington, 952-681-6400 Section/Township/Range: 20/27/24 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: […]
General Property Information Legal Description: LOT 012 BLOCK 002 PALMER LAKE PARK County: Hennepin Postal City: Brooklyn Park School District: 279 – Osseo, 763-391-7000 Section/Township/Range: 27/119/21 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Palmer Lake Park Common Wall: No Lot Description: Tree Coverage – Medium, City Bus (w/in 6 blks) Road Frontage: City Zoning: Residential-Single […]
General Property Information Legal Description: MARIAN HILLS CITY OF FRIDLEY LOT 5 BLK 1 MARIAN HILLS -SUBJ TO 5 FT UTILITY EASE ALONG W LINE- County: Anoka Postal City: Fridley School District: 13 – Columbia Heights, 763-528-4500 Section/Township/Range: 25/30/24 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Marian Hills Common Wall: No Zoning: Residential-Single Accessibility: None […]
General Property Information Legal Description: 5 Acres in Sec 6 Township 115 Range 24 County: Carver Postal City: Cologne School District: 110 – Waconia, 952-442-0600 Section/Township/Range: 06/115/24 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: Common Wall: No Lot Description: Tree Coverage – Medium Road Frontage: Township, Unpaved Streets Zoning: Agriculture Accessibility: None Power Company: […]
General Property Information Legal Description: LOT 20 BLOCK 3 THE LAKES OF RADISSON 18TH ADD. County: Anoka Postal City: Blaine School District: 16 – Spring Lake Park, 763-786-5570 Section/Township/Range: 15/31/23 Rental License Y/N: No Manufactured Home?: No Complex/Dev/Sub: The Lakes Of Radisson 18th Common Wall: No Lot Description: Tree Coverage – Medium Assoc Mgmt Comp: Aspen […]
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.
We would love to hear from you.
Send us a message we can help you find your dream house.