Spring Lake Park, MN (PRWEB) March 06, 2013
Kris Lindahl of Edina Realty hosted a Contract For Deed seminar in Spring Lake Park, MN yesterday afternoon that saw full attendance. At the seminar Lindahl demonstrated the new Minnesota Contract For Deed Application website that he created and screened a Spring Lake Park Contract For Deed video that he made as well.
Lindahl is one of Edina Realty's premier agents and has become a trusted voice in all things real estate. "I know real estate like the back of my iPad," Lindahl said. His blend of professional and technological expertise has earned him the unofficial title of Internet Marketing Specialist.
"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.