Contract for Deed. Pros and Cons Explained

Have you wondered how some people are able to buy a house without using a bank or a suitcase of cash? Most likely, that buyer benefited from something called a contract for deed.

Contract for deed is also known as a land contract, an installment contract or a bond for deed. No matter the name, it basically amounts to a deal where the seller provides the financing for the purchase.

While this idea seems like a breeze, there are lots of things to consider for buyers and sellers. Let’s go through some of the pros and cons briefly today.

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[dasawdustgirl]

Thanks for much for this very detailed explanation of how contract for deed works. I feel great now having "some knowledge" to present to my buyers.

[JumpJuiceNate]

Anyone know what the name of what this is called in Missouri? I’m in St. Louis and have a few of these! Just looking for private money

[artkyger]

My dad sold many houses on contract-for-deed, I never heard him complain.

[wildmanofborneo]

Hi, if the buyer defaults, what is the name of the court motion that the seller must file to regain physical possession (we already recorded the special warranty deed from buyer back to seller) ?

[Davion_savant]

Hi, if the seller brings on liens or defaults by not paying the funds i gave them, what will happen would all my funds be lost ?