Alabama Contract for Deed

This Alabama Contract for Deed allows the seller to assist the buyer by carrying part or all of the purchase price. In effect, the seller becomes the mortgage lender for the balance of the purchase money.

• Title will transfer to the buyer once the seller has received payment in full of the principal and interest.
• The seller has the right to take back the property if the buyer defaults in payment.
• At the seller's option, the balance can be repaid by monthly payments with or without interest until paid, or monthly payments with interest for a fixed number of payments with a balloon payment at the end to pay out the balance.

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