Rent vs Buy in Peoria County>Question Details

Nicky, Renter in Peoria County, IL

If you do contract for deed, do you suppose to pay taxes for the house?

Asked by Nicky, Peoria County, IL Tue Oct 26, 2010

Help the community by answering this question:

Answers

1
Nicky,
You ask a really important question. Be certain in the contract it is written who is responsible for the taxes.
A contract for deed can have either party be responsible.
Be very clear on who is responsible on all issues and that both parties understand and agree.
It may be a good investment to have a real estate attorney go over this with you to be certain you have addressed all issue and that you understand your own contractual agreement.
Great Question.
0 votes Thank Flag Link Tue Oct 26, 2010
Search Advice
Ask our community a question
Email me when…

Learn more

Copyright © 2015 Trulia, Inc. All rights reserved.   |  
Have a question? Visit our Help Center to find the answer