contract for deed and delayed closings

[hillys6]

What is the name of your state?missouri

ok we are doing a contract for deed on a house which i only found a few referrances for them and one was just scary and the rest i didnt understand or did it seem relvant to us,

were a family that are doing a contract for deed we found the house, the offer was accepted and is in the process of closing, then we will sign all our
paperwork for our contract for deed, from how i understand this in 12mos we refinace the house into our name using a con mortgage, a certain percent of the rent is applyed toward the house most of it isnt, while we get our credit glitches straighten out,

is this a total scam or are some of these deals legit?

we were due to close on the house originally july 14th but they were trying to close the 8th due to other issues it didnt happen so now were back to the orginal closeing date of the 14th i am getting nervous about this and worried that something will fall thru, we are packed, have trucks rented, the owner is packed and will be vacating this week, we are suppose to get the keys sat july 16th at 11am, our realtor has worked with this company before and said they have never closed late but that they are using a new lending company and have a few deals in the works, my friend said this isnt totally uncommon for things to hang up closing and not to panick yet,

should i panick i dont want to lose the money on our moving truck if were not gonna be moving we have to vacat this house and gut it for family next week so if this fall thru this is a huge disaster for me and my children i just need to know what to expect

thanks for any help anyone can offer