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Real Estate
The Real Estate Adviser |
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February 3, 2005
The Real Estate Adviser: Carrying a contract? Know your options
By TOM KELLY
Special to the Journal
Special to the Journal
If you are selling your home and decide to "carry the contract" be certain you know exactly how the deal will be financed and are familiar with the documents involved.
In many states, most transactions are now closed via a note and deed of trust. Other states use real estate contracts. Few sellers, and even some agents, truly understand the difference between a real estate contract and the note and deed of trust. But the distinctions are important, and knowing the differences up front could save money and worry later.
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Previous columns:
- The Real Estate Adviser: How to use an IRA to buy real estate, 01-20-2005
- The Real Estate Adviser: Put IRA funds into real estate, 01-13-2005
- The Real Estate Adviser: Assess your house for potential hazards, 01-06-2005
- The Real Estate Adviser -- Shop the home, then the loan, 12-30-2004
- The Real Estate Adviser: Low mortgage rates, home appreciation top stories, 12-23-2004
- The Real Estate Adviser -- Show buyers your holiday home, 12-16-2004
- The Real Estate Adviser: Don't pencil in home sale loss, 12-09-2004
- The Real Estate Adviser: Digital signatures a boon for real estate, 12-02-2004