Benefits of Free Printable Contract for Deed Form
A contract for deed is perfect for those people who want to buy a property but have a bad credit score and are unable to secure loans.
How does it work?
Under contract for deed, a buyer finds a seller who holds title to the property until it is paid off. The buyer makes regular payments to the seller to pay off balance. A seller has the right to foreclose on the property if the buyer defaults any payment. However, once the payment is made in full, the seller has to transfer title of property to the buyer.
Free Printable Contract for Deed Form is easily available online by simply entering a few details.
Who can use a Contract for deed?
A contract deed becomes a good option in the following cases.
- A purchase agreement is ready for the buyer and seller and who are willing to proceed with the final transaction
- A buyer with bad credit or no bad credit who wants to make direct payments to seller in installments without the help of a bank or financial institution
- A seller with a buyer who is unable to secure a loan and wants the seller to be his finance
- A seller who is willing to let a buyer reside in a property even while he is making payments in installments
- To determine monthly payment in a loan contract
A contract for deed is necessarily a legal document with repercussions as such. Due care should be taken while drawing it up. It is always advisable to make use of Free Printable Contract for Deed Form.