Don't take the seller's word for what it’s worth. Ensure you aren't overpaying by thousands. 4. Draft and Record the Contract
Since there is no bank involved, everything is negotiable. You’ll need to agree on: how to buy a house on contract
Ensure the seller actually owns the home and that there are no secret liens or back taxes. If the seller has a mortgage they haven't disclosed, their bank could foreclose on you . Don't take the seller's word for what it’s worth
They specialized in distressed properties and may offer terms to get a home off their books. 2. Negotiate the Essential Terms Draft and Record the Contract Since there is
Most contracts aren't for 30 years. They usually last 3–5 years, ending with a balloon payment (where the remaining balance is due in full). 3. Perform Due Diligence (The Safety Check)
Never rely on a handshake or a generic form from the internet. Hire a real estate attorney to draft a .
