Contract For Deed

FEATURED LISTINGS FOR SALE Duplex

712-714 Madison Avenue, Albert Lea, MN 56007 MLS#6377310

Are you eager to invest in real estate? Look no further! Here's a remarkable opportunity to own a duplex investment property that caters to your needs. Live in one unit while renting out the other, enjoying the benefits of separate electric and gas meters. Both units feature 2 bedrooms, complete with essential amenities such as a refrigerator, stove, washer, dryer, central heating, and air conditioning. This well-maintained property also offers attached tuck-under garages, a spacious yard, delightful decks, and newer windows. Don't miss out on this chance! Schedule a visit today and explore the possibilities it holds for you.

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FEATURED LISTINGS FOR SALE

105 6th Street NW, Austin, MN 55912-4653 MLS#6273032

Welcome to your new cozy 2 bedroom, 1 bathroom home in the sought-after NW location. Enjoy the many upgrades, including vinyl replacement windows that provide energy efficiency and noise reduction, as well as ceramic tile for easy maintenance. The 100amp electrical breaker service ensures reliable power to all appliances and devices. This home comes fully equipped with all necessary appliances, such as a fridge, stove, microwave, dishwasher, washer, and dryer. With cedar shake siding and a newer roof, you can be assured of the longevity and aesthetic appeal of the property. Inside, take in the beautiful natural woodwork and ceiling fans that create a warm and inviting atmosphere. The full basement provides ample storage space and potential for future expansion. Enjoy your mornings or evenings on the front covered porch, perfect for relaxation. Parking and storage are a breeze with the 1 stall detached garage. With this home, you'll find the perfect balance of charm and convenience.

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Additional Information

Contract For Deed or CD

Contract for deed simply means that the Seller is financing the house for
the Buyer. The Buyer makes the house payments directly to the Seller.
Sometimes these are called land contracts or CD's.

Benefits to the Buyer:

· no credit check

· no application

· no origination fee (1-5% of loan)

· tax benefits (interest payments, depreciation)

· no appraisal

· fast closing

· not have to work with a bank!

· creativity

· Gets bundle of rights (Possession, control, quiet enjoyment, and
disposition).

Typical scenario: 10-20% down payment, 7-10% interest rate, the loan is
amortized over 30-years with a 5-year balloon payment. What is a balloon
payment? This means that the Seller wants a lump sum payment for the
entire remaining amount due. The Buyer typically refinances the house
with a traditional mortgage broker. Refinancing is easier for the Buyer to
obtain.