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How do you draw up a house for land contract?

asked by ferreral (15)

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Tags:  legal  real estate

answers

Assuming this is a real estate contract to purchase an existing home, you need the following items: the lot and block number; street address; name and address of the seller; name and address of the buyer; a brief description of the location of the house in terms of metes and bounds; information about zoning, the heating, sewer and water systems.

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posted by epglaw (546)
7 votes

It should include agreed purchase price, montlhly payment, length of payments, information as to who is responsible for insurance, taxes, etc... Contract should be signed by both seller and buyer. Also, both signatures should be notorized.

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posted by cmoore (16)
5 votes

Suggest google examples of land contracts. Modify to fit your situation. Take it to an attorney to look over. Or suggest having the attorney draft for you.

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posted by MaryL (117)
4 votes

List all parties with a legal interest as well as the terms and conditions of the contract. All parties will need to sign.

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posted by carol35 (46)
2 votes

An attorney can draw up this paperwork or the buyer and seller can get the paperwork notarized at the local courthouse.

2 votes

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