A trust deed is a type of deed that is used to secure a loan for the purchase of real estate. It is usually used when the buyer is unable to obtain a traditional mortgage from a bank or other lender. Instead, the buyer obtains a loan from a private individual or entity, who holds the title to the property in trust until the loan is paid off.
If you are selling your home and the buyer is obtaining a loan through a trust deed, then you will need to sign a trust deed as part of the sale process. This will transfer ownership of the property to the buyer and establish the terms of the loan, including the interest rate and the length of the loan.
It is important to carefully review the terms of the trust deed before signing it, as it will have a significant impact on your rights and responsibilities as the seller. If you have any questions or concerns about the trust deed, you should consult with a lawyer or real estate agent before proceeding with the sale.
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