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The $7.29 million price included a $2.59 million down payment and a seven-year, $4.7 million contract for deed, at 4.5 percent interest.
20, 2016),; Crystal Myslajek, Risks and Realities of the Contract for Deed, COMMUNITY DIVIDED, Jan.
Nelson, The Contract for Deed as a Mortgage: The Case for the Restatement Approach, 1998 BYU L.
[T]he sales often go unrecorded due to a lack of financial and legal sophistication on the part of both parties involved in the agreement."); Ann Carpenter et al., Informal Homeownership Issues: Tracking Contract for Deed Sales in the Southeast 6 (Fed.
In the most predatory scenario, sellers unload dilapidated houses on unsophisticated buyers with a contract for deed, locking them into an inflated purchase price and high interest rate.
Lawmakers in Michigan are exploring a law requiring sellers to get an inspection and a certificate of occupancy to prevent an uninhabitable house being sold through a contract for deed. And the Illinois Senate passed a law aimed at regulating land contracts and requiring greater protections for buyers.
After entering into the Contract for Deed, Wheatfield plans to offer the lender a new loan in exchange for a release for the sellers.
When land is sold on a contract for deed, the seller and buyer enter into a contractual agreement specifying the terms by which the seller will receive present and future payments for the land from the buyer.
This article examines the influence contract for deed financing has on the price of forest land negotiated between a buyer and seller in a competitive land market.
NW in Andover Buyer: Passion Church Inc., Maple Grove Seller: ATP II LLC, an entity related to a private investor in Maple Grove Purchase price: $1.4 million contract for deed Price per square foot: $67.33 The transaction: Passion Church, a nondenominational congregation based in Maple Grove, has purchased an Andover building it plans to convert to its third campus and keep as its second event center.

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