In a contract for deed, the purchase of property is financed by the seller rather than a third-party lender such as a commercial bank or credit union. The arrangement can benefit buyers and sellers by extending credit to homebuyers who would not otherwise qualify for a loan.
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Related Stories. Jeep will extend production of the Compass and Patriot into the 2017 model year as it prepares to build a successor in Mexico in early 2017, Automotive News has learned. Output of the current Compass and Patriot at Fiat Chryslerâs Belvidere, Ill., plant is to end Dec. 23, according to sources.