Are there specific training or licensing requirements for professionals assisting with contracts for deed?
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what are the disadvantages of a contract for deed Informational
- How can professional standards and codes of conduct be strengthened to protect consumers?
- What are the best practices for drafting and executing a contract for deed to minimize risks? What specific clauses should be included to protect both the buyer and the seller?
- What are the seller's tax obligations in a contract for deed transaction?
- What are the limitations on the seller's ability to sell or mortgage the property to another party during the contract term?
- Are contracts for deed more common in certain geographic areas or for certain types of properties?
- What are the risks of the seller taking out additional mortgages or liens on the property during the contract period?
- How can the buyer protect their investment in such a scenario?
- How can the security of escrow funds be ensured?
- What legal advice should a buyer seek before entering into a contract for deed? What legal advice should a seller seek before entering into a contract for deed?
- How can a survey verify the property lines? What are the risks of the property not having legal access to a public road or utility services?
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