How Do You Write A Contract For A Deed (Land Contract)?
Sometimes a landowner wants to sell his property and is willing to finance the transaction himself by drawing up a Contract for Deed. Also called a “Land Contract,” this legally binding agreement allows the buyer to bypass a conventional loan and purchase the property directly from the owner. A Contract for Deed is a Security Instrument that ensures that the property owner’s rights are protected. When writing a Contract for Deed, take your time and make sure you’ve included all the aspects particular to the property in question. Write an opening paragraph that lists both the buyer’s and the seller’s full names and addresses and the legal description of the property in question (located at the County Register of Deeds). When listing the sellers, include spouses or any other person who has a legal interest in the property. In order for a real estate contract to be valid, every person with a financial interest in the property must agree and sign the contract. State the terms of the contra
