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Notice of Assignment of Contract for Deed North Carolina Form

Notice of Assignment of Contract for Deed North Carolina Form

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have you ever wondered how some people are able to buy a house without using a bank or a suitcase full of cash most likely that buyer benefited from something called a contract for deed it's also known as a land contract an installment contract or a bond for deed but no matter the name it basically amounts to a deal where the seller provided the financing for the purchase while this idea seems like a breeze there are lots of things to consider for buyers and sellers let's go through some of the pros and cons briefly today here are some advantages to seller financing credit is extended to a buyer who would not otherwise qualify for a traditional loan for instance a buyer with a low credit score with issues with their credit history or one who is self-employed and it's hard to document income the process is faster and less expensive than the traditional route which may be helpful to a seller facing possible foreclosure or a buyer who needs access quickly the buyer

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