Buying Real-Estate Contracts
Buying Real-estate contracts-
These are contracts that you would use to purchase a property. Short sale contracts, quick sale contracts, contracts for deed, or maybe you are looking for a lease option to buy?
When I was starting out, I was careless when purchasing properties as far as the contracts went. Where I am from I believe someones word is stronger then any contract. After losing tons of money, and being taken advantage of, I decided that contracts were more important then anything. Except I still didn’t know how to write one. So what did I do? I got a really good contract writer. Learn more about contract writers.
What is a short sale?
A short sale is where the real-estate is sold for less then the balance owed on it by the current owner. The usually happens when the borrower cannot pay the mortgage on there property. The lender decides that selling the property at a moderate loss is better then pressing the current debtor. If both parties consent to the short sale process, they can avoid foreclosure, which would cost way more for the bank, and it would hurt the borrowers credit.
What is Seller Financing?
This is where the seller can act like a bank and rather receiving all or a portion of there equity at close, the can lend it to the buyer and receive a regular payment as agreed. The seller may set up some sort of terms that would require the full remaining amount be paid in full after a period of time such as 5 to 10 years.
To learn more about buying real-estate contracts, such as quick sales, short sales, or even contract writers, check it out at http://www.squidoo.com/TheContractWizard
About the Author
To learn more about buying real-estate contracts, such as quick sales, short sales, or even contract writers, check it out at http://www.squidoo.com/TheContractWizard
Crystal L. Cox – Ten Lakes Realty – You ARE In Control of Your real estate contract.
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