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Updated about 2 years ago,

User Stats

77
Posts
42
Votes
Hoa Nguyen
  • Edwardsville, IL
42
Votes |
77
Posts

Contract for deed. Who directly pays insurance and taxes

Hoa Nguyen
  • Edwardsville, IL
Posted

Lots of CFD questions lately as I am dissecting the process for a future deal.
The topic of insurance and taxes came in while reaching out to potential sellers. 
I know in CFD situation, the seller still technically pays the mortgage but does so via the funds provided in the monthly payments made by the CFD buyer.
Does this apply to the taxes and insurance? Or does the seller no longer take on that responsibility by name? If that's the case, how do you go about getting insurance and taxes in your name as a CFD buyer?

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