Regardless of past credit you can still own a house

You can search Minnesota Real Estate by Counties with the click of a button. Just click on any county you want to live in and away you go. Information on the latest contract for deed information-NEW LISTINGS Direct by owner financing.Usually no banks are involved sometimes a local bank will offer contract for deed financing but not too often. You can find 100s of the latest listings.

MN homes contract for deed 

A Contract for Deed allows a buyer to purchase a home without obtaining a mortgage.  The home seller becomes the lender to the buyer, sometimes known as seller financing. 

 It is similar to a mortgage except the buyer and seller sign a contract for deed and the buyer agrees to pay for the property in installments to the home owner/seller.  The seller holds legal title to the property while the buyer holds equitable title. 

Equitable title allows the buyer the right to enjoy all of the benefits of home ownership during the course of the contract.  At the end of the contract term the buyer can pay the remaining balance in cash or refinance the balloon payment to pay off the seller and become the owner of the legal title. Or the buyer may let a new contract for deed buyer assume the existing contract for deed or sell the property out right and keep the proceeds above the amount left on the contract.

The types of properties you will find on ou site is condo-town homes-cabin-Single family real estate-lakehouse-investment-hobby farm-acreage.

QUALIFYING FOR OUR CONTRACT FOR DEED PROGRAMS

* Money down is usually around 10% of the sale price of the property.

* Sometimes a bank statement or tax return to show you have the down payment .

* Proof of employment. 

BOARDWALK PREMIER REALTY INC

Steve Vennemann (651-334-8312) BROKER

12100 N Lakamaga Trail, Scandia MN 55047

Washington County

Courtesy By: BOARDWALK PREMIER REALTY INC
$ 549,000
Beds
3
Baths
3
Garages
2
$ 149,900
Beds
3
Baths
2
Garages
2
$ 140,000
Beds
2
Baths
2
Garages
1

Contract for deed 35447 Hill Drive, Cohasset MN 55721

Itasca County

Courtesy By: Move it Real Estate Group/Lake
$ 224,900
Beds
3
Baths
2
Garages
2
$ 269,900
Beds
4
Baths
2
Garages
3
$ 785,000
Beds
3
Baths
3
Garages
7

Owner financing 116 Carver Square, Waconia MN 55387

Carver County

Courtesy By: American Consulting Service, LLC
$ 199,875
Beds
3
Baths
2
Garages
2
$ 284,900
Featured
Beds
2
Baths
4
Garages
3
$ 189,900
Featured
Beds
4
Baths
2
Garages
3
$ 1,075,000
Featured
Beds
4
Baths
4
Garages
2

1875 Donegal Drive #3, Woodbury MN 55125

Washington County

Courtesy By: keller Williams Classic Realty
$ 134,800
Featured
Beds
2
Baths
1
Garages
1
$ 1,095,000
Featured
Beds
5
Baths
7
Garages
3

IS CONTRACT FOR DEED THE RIGHT OPTION FOR ME?

If you want to own a home verses renting or rent to own-leasing then cd is the best option.

Bennefits of contract for deed buyers

*Tax bennefits write off the cd interest on your tax returns. 

* Make the house your own painting-adding a fence ect-pets ok

*Build equity verses paying off some elses mortgage.

* Save $1000 on closing costs- NO origination fees-lender fees.

*NO BANK Qualifying

Contract for deed is a great alternative financing program. If you cant get a mortgage why would you want to keep renting if you have money to put down on a home. Alot of people with good credit are also buying homes on a cd due to FHA mortgage insurance. The Mortgage insurance payment on a $200,000 can be $250 amonth that is alot of money for 30 years. Alot of buyers refinance into a conventional mortgage towards the end of the 5th year of the contract.

The rental market is really expensive right now it costs more to rent a home in the twin cities metro area's than it costs to buy one. That is something to think about.

Sellers cd advantages

Cash flow-steady stream of income. Sellers can make a better return on thier money verses the bank account-charge a higher rate than a mortgage.

Easy to cancel the land contract- In Minnesota the law states the seller can "rescind-cancel" the contract in 60 days.

Experience does matter and remember it doesn't cost you anything to use mnlakeplace.com when you purchase your dream lake home or Lake Property. We have lake homes contract for deed.

***Remember there is alot to know when buying or selling a Property with contract for deed terms.  We can take the stress out of researching properties for you.*** 

Western Minnesota owner financed homes-Eastern Minnesota owner financed homes-Southern Minnesota owner financed homes-Northern Minnesota owner financed homes.

 

MINNESOTA SELLER FINANCING

BELOW YOU WILL FIND CD TIPS TO MAKE DRAFTING A PURCHASE AGREEMENT ALOT EASIER.

* When buying or selling a property contract for deed we recommend using BoardWalk Premier Realty INC

* Always use a title company when buying a cd house or selling. The reason is the title company or law office can provide both parties with a title search and if the buyer chooses the buyer may purchase title insurance we recommend the buyer purchase this insurance to protect themselves against and liens-assessments ect.

 * Some people think contract for deeds are just for people with bad credit that is not the case. A lot of people buy c4d properties with good credit they don’t want to leverage all their credit or self employed or relocation haven’t been at a job long enough to get a mortgage. Another reason is FHA mortgage insurance is really expensive they keep raising the fees so now buyers are choosing owner financing and refinancing in to a conventional loan or selling the house in a few years.

 * MN homes contract for deed can be the perfect solution for buyers looking to have a home but cannot get financing.

 * Contract for deeds is NOT the same as rent to own-leasing-carry back mortgage. Totally different.

* Buyers will want to know if they can sell the cd with out refinancing it. Letting another buyer assume the contract is a great item to have for the buyer. That is something we put in all our land contracts.

* Buyers will want home owners insurance-decide if they want to escrow taxes or pay seller directly.

* Always get a home inspection.

CREDIT TO HELP REFINANCE CD HOME EASIER 

Make sure buyers open 2-3 accounts and pay on time monthly. Do not go over 25% of the credit limit. Banks will want 1-2 years of payments on time. If you cannot get a credit card there are cards you can put money down and they will give you a card and you can pay on it. The main thing is to get credit and someone reporting to your credit bureau.    

*Sellers have the right to cancel a MN contract for deed 60 days after default seek legal advice on that. Buyer may sign back the contract with a quit claim deed. Seek legal advice on that also.

Homestead sometimes when you buy a home it is non home stead the buyer can call the county or city the property is in and see what the taxes would be once it is homestead.

Record the contract for deed it is the law in MN but if you close at a title company or law office they will do it for you. 

BUYING A HOME CONTRACT FOR DEED CAN BE COMPLICATED USING BOARDWALK PREMIER REALTY INC we work with installment contracts-purchase money mortages daily. There is a lot to know when drafting the purchase agreement and land contract.

* Remember with RENT TO OWN if you DO NOT exercise your option to buy the property you will loose out on down payment-and any payments you have made to the owner. Make sure you DO NOT Make any repairs to the house until you refinance it because if you don’t buy it you loose out on all of the repairs you put into the house.

The buyer has the right to occupy claim homestead status. Most of the time the buyer gets possession at closing unless stated in purchase agreement.

If the buyer defaults on the contract for deed the seller may cancel the contract to reclaim the property. In Minnesota the seller with have to serve buyer a cancelation from a third party and proceed at court.

 

      Selling a home in todays real estate market.

2014 Market Update, year-over-year median home prices have been on the rise for two straight years in the 13-county metro area.

Sellers

 

Inventory remains near a 10-year low, and year-over-year double digit price increases are almost becoming standard. These are two sure signs of a sellers’ market and if they both continue, smart sellers will be able to entice buyers for their properties at a fair price quite