Land Contract Form
We did a search for a Land Contract Form and notice many Paid Advertisements for Free Forms leading you to Real Estate Attorney offices’ or Title Companies. Our Land Contract form isn’t free. This land contract form was drafted for the land sellers protection in mind.
We assume you know what owner financing is. A Land Contract is a legal agreement between the land seller and land buyer. The land contract form, gives a detailed payment plan that the land buyer must follow. When all requirements have been meet, the land seller gives a grant deed to the buyer.
When selling your property, and you plan on financing your new land buyer, here is a quick and simple way to draft up a Land Contract, or Contract for Deed. This 2 page Land Contract will get you started. This real-estate form includes most standard clauses that protects you, the land seller in most situations.
A Land Contract is a binding legal agreement between the land seller, and the land buyer. It has also been called a Contract For Deed. Title is transferred when the full terms of the Land Contract have been satisfied. The ownership title stays with the land seller, until the final payment has been made by the buyer. When the terms of the Land Contract have been meet it’s the responsibility of the land seller to give the land contract buyer title to the new owner and record or deliver the Deed in favor of the buyer, named within the land contract form. This is also called a contract for deed. Here is more information on How To Use A Land Contract.
An Installment Land Contract is a type of contract by which the buyer is required to make periodic monthly payments towards an agreed purchase price of land or other real estate and only on the last payment is the seller required to deliver deed.
Here’s the way most use this Land Contract form.
- One, you will need the legal description from your deed when you acquired title to the property.
- Two, determine the amount of interest you will be charging your land buyer for the term of the land sales agreement.
- Three, The term of the loan. How long will the loan be for? How many monthly payments, and will there be a balloon payment at the end date specified in your sales agreement.
Here are some of the benefits for selling your land with a land contract. Probably the most important reason, is that you can sell your land with minimal down payment allowing the first time property buyer to purchase your land while still maintaining ownership till the contract is paid off. The need to do a judicial foreclosure is not necessary if your land buyer defaults. Eliminating this alone can save you upwards of several thousand dollars.
This land contract is viewable and editable in Microsoft Wordpad. Since every State is a little different, we advise you to check your local laws regarding financing this way. At minimum, have a self help legal assistant proof read it or have your attorney review for larger sales transactions. Your local title company can assist you with this if needed.
Here’s more information about selling and buying real estate using a Land Contract.
As with most legal documents, this Land Contract is not guaranteed to be bullet proof – But we feel confident enough with its detailed contents, specifically geared for the Land Sellers best interests, that we use it for our land sales too. This land contract is general enough to be used for most land and acreage sales within the United States.
After you receive the form you can modify the sample text with most text editors. This form is editable with all Windows operating systems.
Start up your WordPad, and open the Land Contract document, and modify the underlined areas to your land sale specifics. Save and print it out.
When ordering online you’ll need a valid e-mail address, so we can email you the Land Contract Form. AOL users will need to get an email account that doesn’t strip attachments. Yahoo offers a email account at http://mail.yahoo.com or Google http://mail.google.com both options work well. When your payment confirmation has processed from Paypal you’ll automatically receive the Land Contract download link and the zipped Land Contract form. E-mailed directly to your given e-mail address will be your personal download link. Please check your filtered folder too in case it has been sorted there. You may need a zip file UN-compressor to unzip the file. You can get a copy of WinZip from http://winzip.com
After payment you will be given the Download Link and a email as soon as Paypal processes your order, usually in a few minutes and rarely 2-4 hours maximum of your order. eCheck buyers Paypal online e-checks usually take 4 days to clear. When the e-check has cleared you will receive the land contract form via email automatically.
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