title insurance
We are buying our property through contract for deed. Our title insurance agent overlooked a mortgage that the sellers have on ttheir home that also includes this house. When it comes time for us to make the final payment what will happen? Also what if the bank forecloses onn the property? We’ve been told that we don’t need to worry about it now but we would like to know what will or could happen. thnx
Tag Archives: Illinois
contract for deed I have a co-worker of mine that is wanting to sell me her…
contract for deed
I have a co-worker of mine that is wanting to sell me her home so she can get a mortgage for a different home and my question is, are we able to do contract for deed or how can we go about taking over payment? My co-worker already has a mortgage on the home and she said she does not want to turn a profit she just wants a different mortgage for a bigger house and my husband and I are very interested but we have filed bankruptcy about 3 years ago. Is this even an option for us?
Eviction on Contract for deed We entered into a contract for deed on a double…
Eviction on Contract for deed
We entered into a contract for deed on a double wide and lot. We had 24 mo to get a loan through a bank. The contract states that if we show good faith effort and are still unable to get a loan that the contract will be continued for 24 mo. We have not gotten a bank loan. A new contract has not been sent to us and the time is nearing that the additional 24 mo will be over. We are in breech of contract in a couple of different areas. I know that legally he can evict us. And I believe it is getting close to that point. My question is, if he does evict us does that mean that everything in that contract is null and void? Can he come back on us for damages to the house or for the remainder of what we owe if we are evicted?
How flexible can contract for deed agreements be?
How flexible can contract for deed agreements be?
My relative needs some steady income as he is in a permanant care facillity and out of his home.
I would like to buy the house CFD with a legal promise to buy when his estate is being settled. Can I have that written in to the contract so no one can make claim to the house after he dies?
While he is alive, who is responsible for property insurance and taxes?
contract for deed In the state of Illinois, how does a contract for deed work.
contract for deed
In the state of Illinois, how does a contract for deed work. Is there a certain way the down payment works? My husband and I are looking into this and our problem is the amount of the down payment, the seller is asking.