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Old 07-02-2008, 01:59 PM
 
Location: North Dakota
56 posts, read 155,640 times
Reputation: 26
Question Contract for deeds in West Central MN.

I left MN.4 yrs ago and I have been scouring the internet for contract for deeds and I don't see very many of them... There used to be a lot. Anyone have an idea of some good places to look? I want to come back, but I want small town north of the Cities between Fergus and Ortonville. Dirt cheap, livable but definitely fixer-upper with room for a garden. If anyone has ideas or knows of a town with a lot of vacancies, let me know! Better yet if you know of someone with a house just sitting, let me know! Thanks, Rhea
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Old 07-02-2008, 08:52 PM
 
Location: South Dakota
733 posts, read 2,771,265 times
Reputation: 635
Why no CFDs? Because mortgages were available to anybody who could breathe - there wasn't a need for owner financing. If and as credit dries up you'll see more CFDs and seller financed mortgages.
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Old 07-03-2008, 04:19 PM
 
Location: Minneapolis and surrounding suburbs
250 posts, read 626,937 times
Reputation: 107
Not many people will list it as an option for financing on MLS. But it is a possibility when you submit an offer a CFD could be accepted, especially if the house is just sitting. We are seeing more and more CFDs in deals for some of the reasons windtimber states above. There are vacant homes all over Minnesota but many of those are short sale/foreclosures. You're best bet at getting a CFD home is through a seller who has money and who is desperate to get out.
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