Sabinske & Associates does quite a bit of contract for deed real estate deals. And, while they can be a win-win situation for a lot of folks, it can be tricky to negotiate a deal that will stay together until the end.
In Sherburne County, Sabinske & Associates are known for putting together transactions for owner-financing that make sense and can help both the owner and the buyer. We get many referrals, and also questions pertaining to the process.
Most of the time, 20% down is required to even get the owner to consider an offer. But, there are circumstances were it can be less. You have to understand that the owner is taking a risk on you. If you were creditworthy, you could obtain a mortgage for the same property. And, you will likely have competition as a buyer since so many have lost homes to foreclosure in recent years.
So, if you are looking at a contract for deed or owner-financing, be sure that you have the cash up front, can make the payments and are willing to basically, be a renter who has to take care of the home as if it were his or her own.
Call us, Sabinske & Associates, if you want to purchase a contract for deed home in Sherburne, Anoka, Wright or Hennepin counties! We will give you the straight scoop and help you understand if it makes sense for you!
Comments (12)Subscribe to CommentsComment