what is contract for deed?
Contract-for-deed is a real estate transaction that lets you purchase a house or commercial property without paying interest.
It works like this:
We establish the terms of the contract with you and collect your down payment.
We buy the property you want.
We sell the property to you on a contract-for-deed agreement.
You receive the property title once the contract is fulfilled.
If you are looking to buy property and traditional financing is not an option, we may be your answer.
Our program also has flexible terms and solutions for parties who may not have an established credit history.
Don’t you want your own property... a house your whole family can fit in?
Buying a house in the States normally asks you to pay interest. Or to have a good credit score. But you don’t have to if you choose a contract-for-deed agreement.
it's easy
Getting property with no interest doesn't have to be hard.
Let Dalmar explain.
Here’s how you buy from us.
1
Watch the video
You can get answers to all your questions.
2
Fill out the application
This will help us find the house you’re looking for.
3
Meet with our team
Together we’ll outline the details of the contract.
4
Get the keys
We purchase the property. You sign on the dotted line.
Frequently Asked Questions
Do I need credit?
No, credit history is not needed to
purchase a property with us.
How much do I need for a down payment?
In most cases it is important to have at least 20% saved up before applying for a house. However there maybe certain contract options that will allow for less than 20%.
Is the house really mine?
Absolutely. If you do business with us, you own the house. You’re NOT renting. At the end of the contract-for-deed you will hold the title for the property, free and clear.
Does the home come with a warranty?
If you buy a newly constructed house from us, it will come with a builder’s warranty. All used properties, however, are sold in as-is condition.
Who takes care of repairs and expenses?
You as the buyer are responsible for all the home expenses and repairs. These can include keeping up the yard; paying for garbage, gas, electric, water, sewer, Internet, TV or cable; and Homeowner Association fees (depending on where you bought your house).
Who pays the taxes and insurance?
We pay your taxes and home insurance for you. We collect these costs monthly with your home payment. Please note that you may need to have additional insurance for private property. We recommend you contact an insurance agent to find out if that is required for your home.
How long can I take to pay off the house?
This varies but the maximum term length we have at this time is 10 years. Once you have successfully completed the terms of your contract-for-deed the property title is then turned over to you.
What if I can’t make a payment?
It’s very important to make your payments each month. If you believe you can’t make a payment, you must contact us immediately to discuss the situation. We will do our best to work with you. If hardships exist, however, and payments cannot be made, you may need to cancel your contract and give the property back.
What if I decide to move and want to sell or upgrade my house?
You will need to contact us to make arrangements and discuss your potential options to mutually end the contract-for-deed.
Where can I purchase a home from you?
We have properties spread across Minnesota, so be sure to name the town you want to live in when you fill out the application. Notice: At this time we only handle properties in the State of Minnesota. We are working to expand, though, so check back in with us in the future if you want to purchase elsewhere.
Ready to get started?