central - east central Minnesota - | IADAVE - 4/9/2024 00:05 What are every ones thoughts on a person buying on contract for deed selling of part of the property. I assume the 2nd byer would have to buy on contract for deed also as the first buyer wouldn't have the deed yet.
Generally, if a CD property buyer sells part of the property, the Owner (holder of the CD) would have to sigh off and generally gets the money off the sale of the property. There are lots of horror stories of CD's gone bad by the buyer mortgaging or selling off parts then lets the CD go into default and the hold (owner) has to pay up to fix the mess or worse loose their property . . . . I'd be working with the owner to sign off and get all or part of the sale proceeds. |
selling on contract
