We’re really interested in a house. We just noticed on the MLS listing page that it says “Contract for Deed” next to Terms. We’re not familar with this so we did some internet research and it sounds like it isn’t for us. Still, we love this house, have the money for the down payment, and are approved by a bank. We were hoping to just buy a house with a traditional mortgage program, not in a rent or lease to own option. Is it possible we could convince the owner to sell it this way? Is it a good idea to do the contract for deed? In case it matters, we’re first time buyers with excellent credit and savings to put down. The house is in our price range. I should have mentioned that we have a buyer’s agent and I emailed him about the Contract for Deed situation, but just couldn’t wait to try to get more information about it. It seems like we could still get the house (deed and all) the way we planned- what a relief!

Answer:
RARELY will a seller refuse cash for his house; the ad “contract for deed” benefits weak buyers; nothing more! hire A BUYER’S AGENT [PAID for by the seller] and submit an offer; never ever allow a dual agency relationship when you buy. ideally, find an exclusive buyers agency