Minnesota Rent to Own and Contract for Deeds

Several of my recent blog articles detailed contract for deeds and various areas with the contract for deed listings available in Minnesota.

Often I get emails and calls for contract for deed and rent to own homes from buyers who want to find an option like this that will work for them.

A lot of the situations are not workable.  Some reminders when looking for a Minnesota Contract for deed or Rent to Own Home.

1. Contract for deed sellers will often want 10% down or more.  Rent to own options probably will want a slightly stronger then normal rental deposit.

2. Income and employment verification is a must. 

3. Low price/low payment homes are rare.  you not typically going to find homes at $80,000 available rent to own or contract for deed. Thus your not going to find a $600-$800 payment.

4. Most contract for deeds or rent to owns want a balloon payment where you can finance out of the contract and have your own loan.  Which means you need to ability to establish/repair your credit in order to finance the home on your own in the future.

If you have other questions on rent to own or contract for deed homes in Minnesota in particular, Sherburne, Isanti, Anoka, Wright, Chisago, Mille Lacs and Henepin counties contact Chuck Carstensen with REMAX Results at 612-290-3809 or chuck.carstensen@results.net.