


What are some red flags that a seller should look out for in a contract for deed?
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what are the disadvantages of a contract for deed Informational
- What are the risks of the seller failing to disclose a pending foreclosure action to the buyer? What legal remedies are available to a buyer who enters into a contract on a property facing foreclosure?
- What are the risks of the seller using the contract for deed as a way to avoid foreclosure on their own mortgage? Can the buyer be evicted if the seller's lender forecloses?
- What are the historical origins of the contract for deed as a real estate financing tool? How has its use and regulation evolved over time?
- What steps can the buyer take to ensure that the title is clear?
- What are the risks of the contract containing illegal or unenforceable clauses?
- How can the buyer track their payments and the outstanding balance? What are the risks of the seller imposing unreasonable or excessive late payment fees?
- How can the power imbalance between buyer and seller be a disadvantage in a contract for deed?
- Why is it important to have all agreements in writing? What are the risks of the buyer failing to obtain their own independent insurance policy on the property?
- What impact do easements have on the buyer's use and enjoyment of the property? What are the risks of the seller failing to pay their own homeowner's insurance during the contract period?
- How can the buyer ensure that their payment records match the seller's records? What are the risks of the seller demanding payments in cash without providing receipts?
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