Seeking help in setting up seller finance / contract for deed
My parents helped me to win a bid on a house by purchasing it all cash in their names. We want to smoothly and efficiently transfer the property over to me via seller financing where my parents will act as the bank and I pay them a monthly payment under an agreed upon down payment, interest rate, term length etc. What is the best way to facilitate the legal transfer of ownership? I assume that getting in contact with lawyers with real estate expertise would be the route to take, but I would appreciate any additional help or guidance. Thanks.
Most Popular Reply
Reach out to Brad Schaeppi at Minnesota landlord law. I can also provide you with the name of an excellent title agent. I believe a realtor may be cheaper, here, to just act as a facilitator but a layer may be best as some of this involves actual legal advice and a realtor won't be able to do that.
- Jeff Schemmel