Minnesota Contract-for-Deeds Promising Help for Home Seller’s and Homebuyer’s

In Minnesota, owner financing, or sometimes referred to as a contract-for-deed (CD), is promising home seller’s and homebuyer’s help in today’s tough housing and lending market. Home seller’s are faced with lowering home prices and stiff competition due to the large inventory of homes. Many homebuyer’s want to take advantage of the housing market today, but are finding it difficult to locate mortgage funding due to the tightening in conventional qualifying guidelines.

In traditional real estate lending, most home seller’s have no choice but to drop their list price, or take their home off the market if it does not sell. For seller’s who need to sell, but don’t need the immediate proceeds from the sale, homeowner financing can be very appealing. Contract-for-deed’s offer seller’s the ability to spread the gain from the sale over years to defer tax liability. The income generated from the sale can provide a monetary resource for retirement or other life needs and changes.

Homebuyer’s can find owner financed properties that offer simple fixed rate terms. In any case, all real estate transactions are unique to the people and property involved. The buyer and seller need a well structured purchase agreement and an experienced professional that can explain the details of their rightful positions in the transaction.

Owner financing can help both sides of the residential real estate housing market. To avoid potential problems, a professional real estate finance and negotiation expert can help each party understand the contract-for-deed process, risks, and benefits. Neither party should ignore, or bypass the steps necessary to make owner financing work properly for a win/win situation.

Contact Information

Bob Elliot - Realtor®

24 Yrs Industry Experience

www.BobElliotMNRealEstate.com

Contact via E-mail