contract for deed - Posted by tim

import · July 6, 2003, 10:56am

Posted by JohnBoy on July 06, 2003 at 11:03:36:

The Buyer.

import · July 6, 2003, 10:56am

Posted by tim on July 06, 2003 at 10:56:29:

who pays taxes and insurance when selling a house on
contract?

thanks tim

import · July 9, 2003, 9:07am

Re: contract for deed - Posted by John Merchant

Posted by John Merchant on July 09, 2003 at 09:07:44:

These things should be covered, in detail, in the contract for sale; if I were selling, I’d try to have buyer pay all, but, of course, as buyer, would try to get seller to pay.

I’d sure advise anybody, on either side, to make every effort to get the money & make sure these things ARE paid, personally, and not trust the other to do it.

E.g. if I’m selling on contract, and buyer does agree to pay T & I, I want to have him include those items on top of the contract monthly payment, and then I’LL personally pay the T & I, so I know they’ve been paid.

But, whatever you do, make sure ALL is included, specified and contained in the REC, as anything NOT covered is bound to cause you trouble later. Assume nothing that isn’t written and agreed upon.