35 Mortgages and Contracts for Deed

Please read carefully before bidding!

Item 1 is a mortgage only. All other properties in this auction have Contract for Deed buyers in place. Be sure to read the terms and conditions and Contract for Deed for details about each property.

You are purchasing these properties subject to the Contract for Deed buyers. The balances for each will be listed on the bidding page. Balances will be updated as payments are received.

If you are the winning bidder, you will receive a deed for the property at closing (except for the mortgage, which will be assigned) and the Contract for Deed will be assigned to you. After closing, the Contract for Deed buyers will begin making their monthly payments to you.

Contract for Deed Explanation
This is a type of Seller/Owner financing where the Contract for Deed Buyer makes payments to the Seller to purchase the property. While the payments are being made, the Seller retains title to the property. Once all of the payments are made, then the Seller issues a deed to the Contract for Deed Buyer.

If you purchase a property in the auction that has a Contract for Deed, then you will take the position of the Seller. The Contract for Deed Buyer will make the payments to you as listed in the Contract for Deed included in the Contract Package for the property. Once all of the payments are made, then you will issue a deed to the Contract for Deed Buyer.

The balances due from the Contract for Deed Buyers are listed in the description for the property on the online bidding page. They will be updated and made current before the bidding begins.