Editable sample blank word template.
Simple land contract template.
Definition of a simple land purchase agreement form.
The land contract is the document making this transaction official and legally binding.
Like any other basic real estate contract template a land contract will include these details.
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2 to use maintain and occupy the land in accordance with any and all building and use restrictions applicable thereto.
A simple land purchase agreement form is a legally binding document between the buyer and the owner of the original land the seller can provide the installment period to the buyer through the bank or can offer his terms by providing financing to the buyer.
A land contract agreement form is usually signed by a property buyer and its seller.
1 to purchase the land and pay seller the sum aforesaid with interest thereon as above provided.
One of the primary reasons why a land contract may be used to facilitate a real estate transaction is because the buyer may want to purchase a property but be unable to obtain a bank loan.
In these situations the buyer and seller can skip the bank loan and enter into a land contract.
Why are land contracts used.
A land contract might also be known as a contract agreement for deed a land installment contract see land installment contract form or installment sale agreement.