Buying Contract For Deed — Hot & Real

To be legally binding, the document generally must be written, signed, and often notarized by both parties.

: In many jurisdictions, the contract should be recorded with the county recorder's office to protect the buyer's interest. Common Risks buying contract for deed

: Specify who is responsible for maintenance and whether the property is being sold "as is". To be legally binding, the document generally must

: Clearly state who is responsible for property taxes and homeowners insurance. : Clearly state who is responsible for property

Information on how to in your specific county.

: If the seller has a mortgage on the property and fails to pay it, the bank could foreclose even if you are current on your payments. If you're interested, I can find: State-specific templates for your location.

: Verify the seller actually owns the property and that there are no undisclosed liens.