Contract for Deed: A contract in which a property title is transferred only after the buyer makes a certain number of monthly payments--also called contract sale.
Basically you are selling the house to your buyer, but not giving them the deed to the house until they make however many monthly payments you decide to put in your contract.
Useful for buyers who want a house, but can't get a regular loan--they will pay you a downpayment and monthly payments for x number of months, after which they will owe the balance of the agreed upon sale price.
Contract for Deed: A contract in which a property title is transferred only after the buyer makes a certain number of monthly payments--also called contract sale.
Basically you are selling the house to your buyer, but not giving them the deed to the house until they make however many monthly payments you decide to put in your contract.
Useful for buyers who want a house, but can't get a regular loan--they will pay you a downpayment and monthly payments for x number of months, after which they will owe the balance of the agreed upon sale price.
Andy