An “installment contract for deed” refers to purchasing property in installments, or pieces, typically over a period of years. Title to the property is given to the purchaser when all installment payments are made. The danger for buyers is that the seller will pocket the payments instead of making the mortgage payment, and could lose the property to foreclosure or from not paying property taxes. If you’re going to do an installment contract for deed, be careful. Seek legal advice to make sure that the contract you sign will protect you.