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WGU C215 Q Bank For CPHQith correct answers When a purchaser cannot qualify for conventional financing and enters into a contract for deed with a seller, the buyer has possession and pays the property expenses and taxes. (In a contract for deed arrangement, the buyer takes full possession of the property and gets equitable title, agreeing to cover expenses like real property taxes, insurance, and upkeep.) 1. In assessing a prospective buyer's mortgage affordability, a lender will typically ...