How does a contract for deed work? ?

My friend is wanting to move to Florida but doesn't want to mess with selling her house with the economy being so bad. She suggested that my husband and I do a contract for deed (we aren't credit worthy to buy a house right now) How does this work and what are the necessary steps to make sure we aren't setting... show more My friend is wanting to move to Florida but doesn't want to mess with selling her house with the economy being so bad. She suggested that my husband and I do a contract for deed (we aren't credit worthy to buy a house right now) How does this work and what are the necessary steps to make sure we aren't setting ourselves up to a disaster?
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