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The Water Cooler
General Discussion
Selling a property - owner financing
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<blockquote data-quote="Dangerousways" data-source="post: 3660234" data-attributes="member: 7913"><p>you need to consult and use a real estate attorney, no question about that. there are lots of problems that can happen, you will have to file a foreclosure to ever get your property back, that"s 3-4k, the attorney will charge you 1k or more to do the contract for deed, there is also title work and abstract, survey, closing fees, some more fees, etc, then things change from when it goes to being a vacant land deal to them putting a home on it, its now there homestead, taxes, insurance etc, they can tie up your property for years with covid, foreclosure, bankruptcy, etc. just my 2cents worth.</p></blockquote><p></p>
[QUOTE="Dangerousways, post: 3660234, member: 7913"] you need to consult and use a real estate attorney, no question about that. there are lots of problems that can happen, you will have to file a foreclosure to ever get your property back, that"s 3-4k, the attorney will charge you 1k or more to do the contract for deed, there is also title work and abstract, survey, closing fees, some more fees, etc, then things change from when it goes to being a vacant land deal to them putting a home on it, its now there homestead, taxes, insurance etc, they can tie up your property for years with covid, foreclosure, bankruptcy, etc. just my 2cents worth. [/QUOTE]
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