The contract for deed process is one of the more popular transactions in this real estate market.
Ham Lake, MN (PRWEB) March 04, 2013
At the seminar Kris Lindahl revealed a Ham Lake contract for deed video explaining the process and its benefits. Lindahl is one of Edina Realty's premier agents with top listings. Lindahl also demonstrated the MN Contract For Deed Application website that he created to provide homeowners with easy access to an application.
Lindahl's many years of experience and technological expertise make him a trusted voice on all things real estate. "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.