Contracts for Deed

A Contract for Deed, also known as a Land Contract, is a type of real estate agreement where the buyer agrees to purchase a property from the seller, but the seller retains ownership until the buyer fulfills all payment terms. The buyer makes monthly payments, and once the total amount is paid, the seller transfers the property's title to the buyer. This arrangement can be beneficial for buyers who may not qualify for traditional financing, but it carries risks, such as the seller's ability to reclaim the property if payments are missed.