The contract for deed process is one of the more popular transactions in this real estate market.
Anoka, MN (PRWEB) February 26, 2013
Edina Realty's premier agent Kris Lindahl launched a contract for deed website that allows homeowners access to an application by simply filling out their email address. In addition to the website Lindahl also released a contract for deed video series on YouTube according to city.
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. "The contract for deed process is one of the more popular transactions in this real estate market," Lindahl said.
A common contract for deed in this market involves a 3-year balloon. This means that at the end of the agreed-upon three years the buyer will get a mortgage loan to pay the seller off. Payoff amount at the end of the three years would be less the original down payment and the monthly payments the buyer was making for the previous 36 months.
Kris Lindahl is a real estate professional and holds the following designations: Certified Distressed Property Experts (CDPE), Short Sale & Foreclosure Resources (SFR), and Council of Residential Specialists (CRS).