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Home Buying in Albert Lea : Real Estate Advice

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  • Home Buying2
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Activity 2
Tue Jan 15, 2013
Miekeba Jones answered:
Hi cjcunningham06, Consult a Realtor in the area.
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Mon Jul 18, 2011
Michael Emery answered:
A contract for deed is typically offered by the current homeowner to the seller. If the seller is not able to sell you their home on a contract for deed, you will have to find an alternative funding source. But keep in mind that non bank sources of money will charge you a higher interest rate due to the increased risk of potential default.

A homeowner that is offering their home on contract for deed usually owns the home outright and will sell in this way because they can gain more in interest from the contract than they would if they simply put the money in the bank.
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