My team and I have made it a commitment to get this information out to the public on several different levels.
Hilltop, MN (PRWEB) March 04, 2013
Edina Realty's premier agent Kris Lindahl held a seminar in Hilltop, MN yesterday afternoon. The seminar featured Lindahl showing a video and explaining the contract for deed process and its benefits. Lindahl expressed his interest in making all real estate processes easier for homeowners and demonstrated the new MN Contract For Deed Application website that he created.
The website allows homeowners an easy way to get an application just by filling in their email address. "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," Lindahl explained. Lindahl is the leader of a team of full-time Edina Realty realtors specializing in the contract for deed process. "My team and I have made it a commitment to get this information out to the public on several different levels," 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.