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Updated about 7 years ago on .

User Stats

180
Posts
37
Votes
Matthew Wright
  • Investor
  • Windham, ME
37
Votes |
180
Posts

Bond for Deed scenario

Matthew Wright
  • Investor
  • Windham, ME
Posted
With this type of financing, can I refi into long term financing with bank, when it’s time to pay off seller? Or is it treated as purchase (requiring 20% down with bank)? Is deed in my name right out of the gate or is it more like rent to own? Ive had a seller hold note before and I was able to rehab the property and just go to bank and refi, not needing to put a down payment into the deal, which is great. However I’ve never done “bond for deed” so i need to know if I’ll be able to just refi or need to purchase, when it’s due.