Contract for Deed
We purchase contract for deeds, mortgages, trust deeds
& real estate contracts locally and nationwide.
We can provide you the funds you need quickly and purchase
first, second and wraparound mortgages.
- Top dollar paid
- No points or hidden fees
- Fast closings
C & A Financial Programs, Inc. specializes in
the purchase of owner-financed notes secured by contracts
for deed. We provide cash liquidity for real estate
owners who have sold their property and taken back a
contract for deed for part of the purchase price.
C & A Financial Programs, Inc. will do all of the
work associated with purchasing your seller held contract
for deed at no extra cost to you. You will be quoted
a net amount to purchase your contract for deed. C &
A Financial Programs, Inc. will pay for all title searches,
appraisal costs and all other expenses related to closing
If you have a contract for deed to sell, fill out our
Mortgage Quote Form
and send it and we will get the process started, or
call today and let our team of experts assist you in
finding the plan that is best for you!
DEED, in law, a written instrument for the transfer
of title to real estate. At common law, the deed was
a contract or obligation under seal, and a seal is still
required in England (even if only a wafer), though no
longer necessary in most places in the United States.
Although customarily recited in a deed, neither consideration
(the giving of something of value), witnesses nor acknowledgment
before a public official is generally necessary to transfer
title. Delivery is required but may be complete without
manual transfer of the deed; acts or words of the grantor
indicating his intention to make the deed presently
operative are sufficient. A deed may also be handed
over conditionally as an escrow (q.v.), in which case
it will not take effect until the specified conditions
are fulfilled. A deed indented, or indenture (q.v.),
so called because of its indented counterparts that
can be fitted together for identification, is one between
two or more parties who contract mutually; a deed poll
(with a polled or smooth-cut edge, not indented) is
a deed in which one party binds himself, with no corrisponding
obligations undertaken by another.
Contracts for Deed are a form of owner
financing of real estate. An owner and a buyer
enter into a contract in which the owner agrees to give
the buyer a deed after the buyer pays the owner a certain
amount of money. Usually the contract requires
the buyer to make payments over time with interest payable
on the unpaid balance. After the buyer pays all
of the payments called for under the contract, the owner
gives the buyer a deed to the property.
During the term of the contract for deed,
the buyer is entitled to possession of the real estate
and is required to keep the property insured and pay
the real estate taxes.
The primary advantage of a contract for
deed for a buyer is that closing costs are usually low.
The primary disadvantage to a buyer is that in the event
the buyer has later financial problems, the process
of foreclosure (or cancellation of a contract for deed)
is very short. Usually a buyer has only 60 days
to cure a contract for deed default in order to keep
the property. For a conventional mortgage, that
time is usually at least 6 months. When a contract
for deed is cancelled, the buyer loses the real estate
and all money paid on the property to that point.
The primary advantage of a contract for
deed to a seller is that the seller may gain interest
income on the real estate. In addition, in times
when interest rates are high for conventional financing,
a seller may be able to offer credit terms to the contract
for deed buyer that a conventional lender may be unwilling
to offer thereby increasing the market value or, at
least, the potential sale price of a piece of property.
The primary disadvantage to a seller is the risk that
the contract for deed buyer may default and that the
seller may be forced to repossess the property after
it has depreciated in value. The best protection
to a seller is the down payment. The higher the
down payment, the less likely a buyer will allow the
seller to cancel the contract for deed and the less
likely the property will depreciate below the balance
owed to the contract for deed seller.