This package contains the following forms:
1.) A Contract for Deed;
2.) Assignment of Contract for Deed by Seller;
3.) Notice of Assignment of Contract for Deed;
4.) Seller's Disclosure of Financing Terms;
5.) Seller's Annual Accounting;
6.) Notice of Default for Past Due Payments;
7.) Final Notice of Default for Past Due Payments;
8.) Notice of Intent to Enforce Forfeiture Proceedings;
9.) Final Notice of Intent to Enforce Forfeiture Proceeding and Request to Vacate;
10.) General Notice of Default; and
11.) Seller's Disclosure of Forfeiture Rights
Purchase this package and save up to 70% over purchasing the forms separately!
The Raleigh, North Carolina Contract for Deed Package is a legally binding agreement between a seller (often known as the vendor) and a buyer (also referred to as the Vendée) used in real estate transactions. This package serves as an alternative financing method, allowing buyers to acquire property without traditional bank loans. In a Contract for Deed Package, the seller retains legal ownership of the property until the buyer fulfills their financial obligations outlined in the agreement. These obligations typically include making regular monthly payments, covering property taxes, and maintaining insurance on the property. Once the buyer completes all payments, ownership is transferred to them. The Raleigh, North Carolina Contract for Deed Package offers several advantages for both buyers and sellers. For buyers, it provides an accessible and flexible financing option, especially for those with less-than-perfect credit. Additionally, buyers can start building equity in the property while working towards securing a traditional loan or improving their financial situation. Sellers benefit from the Contract for Deed Package by expanding the pool of potential buyers, particularly those who may not qualify for traditional financing. They can also earn income through interest on the property, making it a potentially lucrative investment opportunity. There are various types of Raleigh, North Carolina Contract for Deed Packages available to cater to different needs: 1. Standard Contract for Deed Package: This is the most common form of Contract for Deed, where the terms and conditions are agreed upon by both parties. It includes details such as the purchase price, payment schedule, interest rate (if applicable), and the duration of the contract. 2. Lease Option Contract for Deed Package: This type of contract allows buyers to initially lease the property with the option to purchase it at a later date. A portion of the monthly lease payment may go towards the eventual purchase price. 3. Balloon Payment Contract for Deed Package: In this arrangement, the buyer makes regular monthly payments for a specified period, but a lump sum (balloon payment) is due at the end of the contract term to complete the purchase. 4. Wraparound Contract for Deed Package: This contract is used when there is an existing mortgage on the property. The buyer takes over the mortgage payments and makes additional payments to the seller to cover the remaining purchase price. The Raleigh, North Carolina Contract for Deed Package provides an alternative solution for real estate transactions, benefiting both buyers and sellers alike.
