



Why is it important to pay by check or money order to create a paper trail?
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what are the disadvantages of a contract for deed Informational
- Can the buyer be held responsible for the seller's existing debts? What are the risks of the seller disappearing or becoming unreachable during the contract period?
- What happens if the seller defaults on a contract for deed?
- What are the potential costs beyond the agreed purchase price for the seller? Does the buyer gain immediate equity in the property under a contract for deed?
- How can the buyer ensure that their payments are being properly applied? What are the risks of the seller using a contract for deed to avoid restrictions on alienation in their own mortgage or deed?
- 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 are the arguments for and against requiring contracts for deed to be recorded promptly? How can mandatory disclosure requirements protect buyers from undisclosed risks?
- How can the power imbalance between buyer and seller be a disadvantage in a contract for deed?
- How can the contract clearly establish the buyer's equitable interest in the property? What are the risks of the seller attempting to increase the interest rate or add new fees during the term of the contract?
- What are the legal requirements for providing notice of default? What are the risks of the buyer not knowing where to send payments or who to contact if the seller moves or becomes incapacitated?
- What happens to the contract and the property if the buyer passes away?
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