Re: Adding Buyer to deed for contract-for-deed house

Re: Adding Buyer to deed for contract-for-deed house by Steph (TX) on December 5, 2016 @10:11

Before considering adding him to the deed, you should research how difficult it would be to foreclose if he defaults on the contract. With no contract in place, or an expired contract (which shouldn't be the case with a contract for deed), absolutely not. If you can foreclose with minimal hassle--I know in Oklahoma it is pretty easy, but I'm not sure in your area--I might consider it. Any time I've bought with a contract for deed, I didn't take title until after the property was fully paid. Also, consider that if you add him to the deed, he no longer has the same sense of urgency in securing his own financing, so be prepared to accept installments for the remainder of the contract. Even though a lot of the time the first answer is "call an attorney", this really is one of those times when you probably want to consult with one if you are considering adding the buyer to the title. If you inadvertently cloud your title, it will make the property much more difficult to sell later.

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Re: Adding Buyer to deed for contract-for-deed house - Landlord Forum thread 349561