Contract For Deed
Even the best contracts for deed are not without risk. Situations such as these can cause problems, or even a loss of principal:
• liens (mechanical or contractor) placed against the property withour your knowledge
• serious illness or death of buyer;
• drug activities on premises resulting in confiscation or condemnation of the property;
• financial difficulties of buyer (unemployment, divorce orlegal problems);or,
• decrease in value of property due to casualty losses, local issues or the economy.
Protecting your investment requires regular attention:
• collecting past due payments;
• making sure the contract purchaser keeps in force property and liability insurance;
• checking condition of the property to be sure purchaser is maintaining it properly.
And, of course, there's the legal expense you will incur if the buyer defaults. By converting your contract to cash, you eliminate the need to monitor the property and the investment risk. Call us today!