land sale contract

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  • 7/26/2019 Land Sale Contract

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    LAND SALE CONTRACT

    The first party (henceforth known as Buyer) agrees to purchase from thesecon party (henceforth known as !eller) the lan (henceforth known as

    "an) locate at the following aress# {address}$ in the city of {city}$ county of{county}$ an !tate of {state}. %urther legal escription of the "an is as follows#

    {details of the Land, perhaps using the description listed in pulic record}

    This Contract is e&ecute on {date}$ {year}.

    The following terms an conitions apply to this Contract#

    '. !rice"Buyer agrees to purchase the "an escribe aboe$ paying a totalpurchase price of {a#ount in dollars}. Buyer will pay {a#ount indollars}for a own payment$ an thereafter payments will be maemonthly. onthly installments will be in the amount of {a#ount indollars}$ incluing a {nu#er}* interest rate$ to be etermine by{description of ho$ interest rate $ill e co#puted} . !ai payments willstart on the {date}of {#onth}$ {year}$ an be ue on the {date}of eerymonth until such time as the entire payment amount has been satisfie.

    +. Late fees"Buyer agrees to pay the monthly installment on the ue ate$with the unerstaning that a {a#ount in dollars}late fee will be ae

    to the monthly payment if sai payment is more than {nu#er}ays late.

    ,. End of contract"The entire balance must be pai by the {date}of{#onth}$ {year}. -f there is a remaining balance on this ate$ the intereston sai balance shall be {nu#er}*$ with a {a#ount in dollars}late feeapplie eery ay month until the balance is pai in full.

    . Default"-f Buyer oes not pay {nu#er}payments on time$ !eller hasthe right to eclare Buyer in efault of this Contract.

    /. Title"0pon final payment$ when entire purchase price has been pai in

    full$ Buyer agrees to proie !eller with the title(s) an1or ee(s) to the"an. !eller further agrees to relin2uish any an all claims to the "an.Buyer agrees to remoe !eller from any liability with regar to issues thatarise afterthe ate of the title transfer. Buyer agrees to take completeresponsibility$ financial an otherwise$ for the "an upon title transfer.

    3. %nsurance"!eller agrees to maintain a ha4ar insurance policy on the"an of no less than {a#ount in dollars&until the completion of the

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    payment plan$ at which point any insurance becomes the responsibility ofBuyer.

    5. Ta'es"6ll ta&es on the "an shall be the responsibility of Buyer as of theate of this Contract.

    7. ADD%T%ONAL TER(S"

    {insert description of any other ter#s agreed upon y oth )uyerand Seller* #ust e inserted prior to the signing of the docu#ent}

    This Contract is e&ecute on the {date}of {#onth}$ {year}.

    8e$ the unersigne$ agree to this Contract an all its terms.

    _______________________________________ ________________!eller (Print 9ame) :ate

    _______________________________________ ________________!eller !ignature :ate

    _______________________________________ ________________Buyer (Print 9ame) :ate

    _______________________________________ ________________Buyer !ignature :ate

    _______________________________________ ________________8itness (Print 9ame) :ate

    _______________________________________ ________________8itness (!ignature) :ate