Products tagged with 'missouri mortgage form'

In Missouri, a Contract for Deed is used to sell real estate in circumstances where conventional mortgage financing may not be available to the buyer.

• A contract for deed is also known as a "land contract" or "installment purchase agreement".
• The seller basically takes over the role of the mortgage lender. The buyer pays the purchase price in installment payments until the principal and interest is paid in full.
• Title to the property remains in the seller's name until the full amount has been paid, at which point the seller transfers and conveys the title to the buyer.
• The seller can foreclose on the property if the buyer defaults in making payments.
• This is a downloadable legal form in MS Word format.
• Intended for use only in the State of Missouri.