Bond For Deed
Anyone have an advice regarding this topic. I see several properties that are listed Bond For Deed, could someone help me to understand this concept it almost seem too easy to be real. Thanks for all input.[ Edited by la2lawoman on Date 11/25/2004 ]
Bond for deed, as I understand it, is similar to contracts for deed or land contracts, in that either a seller is directly selling their property on payments, OR an investor is in the middle, and has a bond for deed already with the seller, who likely had some motivation, and is selling to an end buyer via bond for deed on payments, and collecting a monthly spread, and a future payoff, and possibly an up front fee or down payment of some sort.
Hope this helps, I am sure others might have a better explanation. Best, Dave