Common Contracts
1 similar Contract for Sale of Land contracts
Contract for sale of land nswContract for Sale of Land • May 15th, 2021
A land contract is a written agreement between a seller and a buyer for the acquisition of a property. While sellers often prefer a one-time cash payment for the property, a land contract allows the buyer to effectively obtain a loan from the seller which they pay off in predetermined installments. This allows for the land transaction to occur without the hassle of obtaining traditional bank financing and for a buyer with bad credit to obtain a home. A land contract is also called a Trust Deed, a Private Mortgage, a Contract of Deeds or Notes. Identify the property you want to purchase and negotiate the terms of the transaction with the seller. These terms should include the purchase price, payment period and installment amounts along with other discussed contractual obligations. Analyze the property's location and market value. Information on the property's location can be found online via the city/county/town's website. Property value can be assessed by comparing recent sales in your
