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Owner Carry vs Contract for Deed

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teeblackman Joined: 19 Jan 2011 Posts: 3 1.49 Dollars($)	Posted: Wed Jan 19, 2011 10:26 am    Post subject: Owner Carry vs Contract for Deed Like 0 Dislike 0 I have a buyer that want's to know the difference between an owner carry back and a contract for deed. I did speak to a company that finds financing for individuals and he thought it was easier to get your property back on an owner carry back because you did not have to go through the legal foreclosure procedue that you have to go through on a contract for deed. Does anyone have a clear answer on this topic? Thanks!
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Wed Jan 19, 2011 10:22 pm    Post subject: Like 0 Dislike 0 Hi teeblackman! Welcome to forums! In order to know what an owner carry back or owner financing is, check out the given page: http://www.mortgagefit.com/owner-financing.html . Contract for deed is similar to owner financing. This is a process for an eventual purchase of property. It does not offer a property title to the buyer. It only establishes the terms under which the buyer will offer payments to the seller. The contract will specify a start date for this action to take place. Feel free to ask if you've further queries. Sussane

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