Just Thinking
Hell-o all I was a little confused...When I take a home subject to and get a home owner to sign the warranty deed. Do I need to get a Agreement for deed? Say for example I agree to pay seller
$ 10,000 after I sell the home,, what form would I use Agreement for deed or ?? Just so the home owner knows that I will pay them $xx after home sells.... Thanks for all your help,,,,,,,,,,,,,MD 
I would give the seller a deed of trust that stated the agreement that you have and also get a deed from the seller that states that there is a vendor's lien on the property, which is basically a warranty deed that notes the agreemant that you have with the seller. An agreement for deed is like a contract for deed. You will not actually own the property this way but you would be able to record the contract to protect your position. I would stay with the deed of trust. All this is assuming that you live in a non-judicial foreclosure state like Texas. For a small fee I can help you fill out your own documents.
Good LUCK and Thank You
Hope this helps some
Ted Jr
In this case, you would use a note and a security deed (or mortgage or trust deed, depending on state) which will secure the note to the house. That way, the owner has something they can go after if you don't pay up. They can foreclose.
Of course, if you wanted to and the sellers would go for it, don't secure it to the house and just use a personal promissory note, so the sellers can not take the house if you don't pay.
But of course, you will pay up, so it's not really any issue, is it?
[ Edited by chriseaker on Date 01/03/2004 ][ Edited by chriseaker on Date 01/03/2004 ]
Thank-you for your help...I was just thinking,,,,could I write somthing in the purchase and sales agreement that states ( maybe on line 18 ) buyer will pay seller $xxxxxx upon resale of home.......
Whatever you and the seller agree to is what you do.
The form you write it on will depend upon what you normally use in your state. Then it is just a matter of both parties performing as agreed.
John (LV)