Our Process
Our process for owning your dream property is simple and easy. Zanzibar is here to help.
Get Your Dream Property with our Contract For Deed Financing
Phase 1
Found a property you love? Zanzibar exists to make your dream property a reality. The next step is to get in touch with our expert team so we can help you start your property ownership journey.
Identify Property
Over 90% of property buyers recommend using agents to make the process easier and safer. Connect with a licensed or vetted local agent to help you identify your dream property.
Choosing a Realtor
If you don’t have a property agent, get in touch with us. We connect our clients to licensed partner agents in Minnesota, Wisconsin and Ohio. The agents are vetted by Zanzibar in advance to ensure our customers get the best experience and advice. You will not be required to pay anything when working with the agents, as the seller will cover their fees.
Partner Agents
Phase 2
Once your property is identified, have your agent contact Zanzibar Financing. We will submit an offer to purchase your new place on your behalf. If you already have your property under contract, congratulations! Get in touch to obtain Zanzibar Ownership Quote.
Filling Out the Zanzibar Ownership Forms
At this stage, we will ask you to provide us with information about your property and the financing needed. After that, Zanzibar will give you access to our estimate tool to help you calculate how long it will take you to complete your payments.
Phase 3
Once a mutual agreement is reached on the Zanzibar Ownership Quote, we will draft the contract-for-deed financing agreement for you to sign.
Track Your Application Status
At Zanzibar, we are committed to making your journey to owning property easy. However, you’ll need to track the status of your contract closely to stay informed. If additional documents or information are required, please send them promptly to avoid unnecessary delays. Our team will provide you with timely notifications and status updates.
Phase 4
Once both parties have agreed on the terms and conditions, we will finalize the contract.
Contract Signing
Upon signing the contract-for-deed financing agreement, Zanzibar will obtain a financing commitment from one of the many long-standing Islamic financing partners we have.
Note: If you’re based in OH, this process is referred to as a “land contract”.
Change Title to Zanzibar
Zanzibar Financing will engage a title company for our mutual benefit to provide title work and facilitate closing. During this phase, you will also need to get insurance for your new property.
Payment Plan
Since the property is still under Zanzibar, we will sell it to you at a fixed rate. The fixed rate includes the amount Zanzibar paid to purchase the profits plus its profit.
Phase 5
You have made it! Welcome to your new place! It’s now time to move your family or business into your new property.
Monthly Payments
Since our agreement is complete, you will be required to make monthly contract-for-deed payments to Zanzibar Financing as planned.
Enjoy Your New Property!
Get ready to create memories in your new place. Upon satisfaction of the contract terms, you will receive deeded title to your property.