Ramsey, MN (PRWEB) March 06, 2013
Edina Realty's Kris Lindahl explained the contract for deed process and its benefits at seminar yesterday morning in Ramsey, MN. Lindahl started the seminar by showing a Ramsey Contract For Deed video that he created and posted on YouTube for homeowners to watch. After showing the video the experienced agent revealed the new Minnesota Contract For Deed Application website that he created as well.
The application website allows homeowners easy access to an application by filling out their email address. "Homeowners can be assured that once they've put in their email address my team and I make it a top priority to get them going on the application process," Lindahl said.
"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 further that 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.