The contract for deed process is one of the more popular transactions in this real estate market.
Columbus, MN (PRWEB) March 01, 2013
Edina Realty's Kris Lindahl hosted a seminar in Columbus, MN yesterday morning at which he presented to the audience the Minnesota Contract For Deed Application website. The website allows homeowners access to an application by simply filling out their email address. Lindahl also showcased a video on the Columbus Contract For Deed process.
Lindahl is the leader of a team of real estate professionals that specialize in contract for deed transactions. Homeowners are assured that once their information is filled in on the website the Kris Lindahl team will make it their top priority to send an application.
"The contract for deed process is one of the more popular transactions in this real estate 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 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.