bond for deed
- It's a type of agreement where the ownership of a property passes from the seller to the buyer after the full payment of the agreed purchase price
- The inexpensive property was purchased through a bond for deed arrangement, and the new owner received the keys after making the final payment.
- Due to financial circumstances, they decided to use a bond for deed to facilitate the property transaction.
- In cases where the buyer doesn't have enough funds upfront, a bond for deed can be a practical option.