A contract for deed is one of the more popular real estate transactions in this market.
Andover, MN (PRWEB) February 26, 2013
Kris Lindahl of Edina Realty released an Andover contract for deed video explaining the contract for deed process and its' benefits. In addition to the released video Lindahl also recently launched the Minnesota Contract For Deed Application website that allows homeowners easy access to an application by simply filling out an email address.
“A contract for deed is one of the more popular real estate transactions in this market”, Lindahl said. Contract for Deed transactions allow a buyer to purchase a home without the bank being involved. Essentially the seller is the bank for a period of time.
A common contract for deed in this market involves a 3-year balloon. This means that at the end of the agreed-upon 3 years the buyer will get a mortgage loan to pay the seller off. Payoff amount at the end of the 3 years would be less than the original down payment and the monthly payments the buyer was making for the previous 36 months.
Kris Lindahl is the recent recipient of the Chairman's Award, the highest honor an Edina Realty agent can receive, for excellence in sales and sales volume. "I credit my success to a technological expertise that gives me the edge over other agents nationwide,"Lindahl said.