Real Estate Land Contract Form
Instructions for Use: This Land Contract Form is provided for the agreement between the Buyer and us, concerning the purchase of land owned by us. Please review and complete all sections of this form. Once filled out, return the form to our office for processing and finalization.
I. Parties to the Contract
This Real Estate Land Contract (hereinafter referred to as the "Contract") is made this day of , 20 , between [Your Company Name] (hereinafter referred to as the "Seller") and (hereinafter referred to as the "Buyer"), collectively referred to as the "Parties".
II. Property Description
The property subject to this Contract is described as follows:
Legal Description:
Address:
County: State: Zip Code:
Parcel Number:
III. Sales Terms
A. Purchase Price: The total purchase price for the property is $ .
B. Payment Terms: The Buyer agrees to pay the purchase price as follows:
Down Payment: A down payment of $ is due upon execution of this Contract.
Monthly Payments: The balance shall be paid in monthly installments of $ , including interest at a rate of % per annum, commencing on , 20 , and continuing until , 20 .
C. Taxes and Assessments: The Buyer is responsible for all future taxes and assessments on the property from the date of this Contract.
IV. Conditions of Sale
A. Inspection: The Buyer has inspected the property or hereby waives the right to do so.
B. Default: If the Buyer defaults in making payments, we may terminate this Contract, retain all payments made, and regain possession of the property.
C. Transfer of Title: We agree to transfer title to the Buyer upon full payment of the purchase price, by warranty deed, free and clear of all encumbrances, except as specified in this Contract.
V. Miscellaneous
A. Governing Law: This Contract shall be governed by the laws of the state where the property is located.
B. Amendments: Any amendments to this Contract must be in writing and signed by both Parties.
C. Notices: All notices under this Contract shall be in writing and delivered in person or by certified mail to the Parties at the addresses specified above.
Acknowledgment
The undersigned Buyer acknowledges receipt of a copy of this Contract and agrees to its terms and conditions.
Seller
[Name]
[Date]
Buyer
[Name]
[Date]
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