Asked by Reseeker, Minnesota • Sat Oct 6, 2007
(1) Are there 1 or 2 closings?, (2) Who is on the property title during the term of the contract?, (3) What if there is a mortgage on the property when a you sell by contract for deed? (4) Is it usual for the buyer on the contract to pay the insurance and taxes?, (5) Is any downpayment usable by the seller or does it go into escrow?, (6) If the buyer defaults, does the downpayment get returned?, and (7) whatever other things would be helpful to understand this type of contract and the steps to complete the sale.
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