I have written articles on owner financing as it relates to the seller selling a house where they hold the mortgage through a contract on one of their homes.
For buyers, our agents are able to email available properties or land for sale that should meet the buyer’s criteria.  Our agents know how to fill out and negotiate the necessary contract forms for any of the houses that the buyer may decide to write a purchase agreement on.
If you, as the buyer, have wondered  what, when, or how a contract for deed works, I am happy to say that our experienced agents should know the answer, as they work with these transactions daily, as their niche.

Want to sell on owner financing?  Have a house to sell?

Dan/Agent has 8 buyers ready now 763-634-1766:
1.Buyer,$20-25k down,Sherburne Cnty,prefer Becker, <$1,200
2.Buyer $50k down in Scott & Ramsey Cnty up to 700k
3.Buyer Maplewood, Woodbury, Maple Grove, up to $550k<10%
4.Buyer Fridley area and nearby Cities, 250k and under, $30-40k down
…5Buyer Anoka, Washington Cnty, 20k down, 300k and under price.
6.Buyer Sherburne Cnty, 15k down, 250k sales price and under
7.Brooklyn Center, brooklyn park area with up to 10k down 150k and under..
8.$30-40k W. Roseville  St.Anthony, NE Mpls, Fridley, New Brighton, Shoreview, Vdns Hghts, Lauderdale

Tony/Agent has 5 buyers ready now 763-634-1753
1. 10-15K down, Minneapolis, St. Paul, B. Park, B. Center 130K and under
2. 15K down, Minnetonka, Hopkins 200K and under
3. 5-7K down St. Paul, Maplewood
4. 25K down Minnetonka, Plymouth, Maple Grove, Orono, Long Lake 250K purchase price
5. 10K down Isanti, Cambridge 90-120K

If you want to sell a Minnesota home and have questions about the listing process and how your home can effectively be marketed to buyers, please contact one of our agents by email, text, or phone, and we’ll be happy to go over the process with you.  Our agents will need to talk to you about your situation, when you plan on selling and moving.  The agent would collect information on your property and likely see your property in person and take photos.  From there the agent can put together a game plan of getting the home listed on the MLS and marketed online.

For any home owner’s or seller’s that want to sell your home fast our agents can offer to list and sell your home online for sale on the MLS.  For those who want to sell their own home as for sale by owners, if you want to know how to sell your home, you can call one of our agents and we can tell you the advantage of working with an agent vs. trying to sell your home FSBO.
Through an agent network, the MLS and online websites you can reach a larger buyer’s market and hopefully get more money for your home and sell it quicker.  This alone could make the investment in time with an agent well worth it.  For questions on the listing process, please call one of our real estate agents.  Our agents are happy to list your home and sell to finance buyers or buyers on a contract for deed.

HTML clipboard C: Leaving your house
1.Rent out your property-
-If you aren’t in foreclosure, or don’t plan on it
-If rent may be less than your mortgage payment, must be able to afford
-Can provide you with property management
-Provide you with rental placement of the tent, credit checks, marketing, etc
-Renters insurance recommended
2.Lease Option your property-
-Ideal for a little bit more of a serious renter with an option to buy
-Could be your potential future buyer
-Typically a little more money upfront with an option vs. a deposit
-RTO buyer recommended to enter credit repair
-Owner still pays insurance and property taxes
-House shouldn’t be over-financed
-Repairs are negotiable in the contract
-Option and monthly payment credits towards purchase are negotiable
-12-36 months until financing are standard terms
-Renters insurance recommended
-Owners judgments could still attach to the house
-Once recorded owner may not easily be able to file new mortgages
3.Sell on a Contract for Deed-
-May make sense for taxes on an installment sale, ask your accountant
-Buyer pays property taxes and insurance, added additionally insured recommended
-Buyer puts down 5-10% typically
-Down payment should be able to be used for future purchase
-12 months of on-time payments typically qualifies for a buyer’s refinance
-Owner still has the deed
-Minnesota law requires to be recorded
-Owners judgments could still attach to the house
-Once recorded owner may not easily be able to file new mortgages
-Seller please see due-on-sale clause in mortgage contract per the lender
-Quick closing
4.Sell your House’s Deed-
-If you don’t think you can sell, sell your deed and the house, vacate the house
-If you have little equity, sell your deed and the house, vacate the house
-Mortgage will still stay in owner’s name until new buyer gets a loan and pays off liens
5.Sell your equity house by listing it-
-List it on the MLS
-Full service listing/marketing/selling by a listing agent
-Agent shows houses, or has a buyer’s agent show houses
6.Sell for higher than the low bid at the sheriff sale-
-These days, lenders often sell short at the sheriff sale off the original loan amount
-List it on the MLS for more than the low bid amount at the sheriff sale
-Full service listing/marketing/selling by a listing agent
-Agent shows houses, or has a buyer’s agent show houses
7.Sell on a Short Sale-
-Best for little, no equity, or over-financed houses
-Beneficial for satisfaction and discharging debt negotiating
-Minimal fees- city inspection, association dues may apply
-Great for those with 2nd and 3rd mortgages
-Great when you want to sell
-Take many months of bank negotiating, and listed on the market
-Often you can take advantage of the mortgage debt relief act until 2002
8.Property Management-
-Renter placement
-Fix up and contractor calls taken care of
-Leases
-Credit/background checks
-Can manage entire portfolio’s
-much much more

*If you can’t sell, by renting or selling on a contract for deed, you can count 75% of rental income to offset your
Debt-to-Income Ratio (total monthly payments divided by gross income) when qualifying for a loan
*if there is an outstanding mortgage debt, must have 6 months PITI and MI in reserves for both properties”
*FYI, there is a very beneficial IRS tax law that requires you to live in your house 2 of the last 5 years before selling

CONTACT ME:

Email subscribers- Go to any of these sites, to get info by email: RonOrr.com,
RenterLeads.com , RentToOwnBuyers.com , Contract4Deed.com , HomeLoansMN.com ,
MinnesotaInvestors.com, SellMnHouse.com, OverFinanced.com, BankOwnedForeclosure.com

Scenario’s can be emailed to: ron@minnesotainvestors.com

Please answer these questions on your first Email
1. Credit score of everyone on the loan
2. Last Bankruptcy, Foreclosure, or Short Sale for everyone on the loan
3. How long consistent work for everyone on the loan
4. Monthly payment you can afford
5. Total money available you have
6. Your desired move-in date