“In a contract for deed, buyers purchase a property over time directly from a seller, without a bank or other lender financing the purchase,” explained Sen. Tina Smith (D-MN).

The contract for deed option is marketed as a way for people who can’t get a conventional mortgage to realize the dream of owning a home. But more often than not, buyers do not end up as homeowners.

The Consumer Financial Protection Bureau is cracking down on contract-for-deed home financing deals by requiring that sellers disclose financing costs, assess a borrower's ability to repay and abide ...

The purchase price can be twice what the property is worth, records show. On average, contract-for-deed sales were about 10 percent above the estimated market value as set by county assessors.

On August 13, 2024, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion stating that contracts for deed are “credit” under Regulation Z, and therefore subject to its ...

Rep. Nick Hoheisel, a Wichita Republican, requested the bill for introduction in 2023. He said requiring contract for deed sellers to have a free and clear title is important.

A contract for deed -- also called a land installment contract -- allows a homeowner to contract with a buyer for the sale of property without the buyer needing to qualify for a mortgage loan.

WICHITA, Kan. (KMUW) — A new law regulating contract for deed home sales is now in effect in Kansas. Contracts for deed allow a homebuyer to make monthly payments directly to a seller instead of ...