A deed is a legal document that is submitted, agreed to, signed, and sealed by judicial persons. Deed Forms are usually used for property transactions. A Contract for Deed is an agreement between a buyer and a seller where the buyer is obliged to give regular payments to the seller until the end of the signed contract. The title of the property will belong to the seller until the balance is fully paid by the buyer. Unless the buyer fails to pay the right amount on time, the seller retains the property under his name.
Templates for such forms are available for download right on this website.
Land Contract Deed Form
Free Contract Deed Form
Printable Contract for Deed Form
Individual Contract for Deed Form
Real Estate Contract for Deed Form
Importance of Contract for Deed Forms
When one signs a contract, he is bound by the terms and conditions written under it. With the case for Contract Deed Forms, the seller needs to assure that his buyer is accountable for a property that he is selling. In the contract, the form of payment, time duration, and the total balance to be paid by the buyer are specified for legalities. Sellers should have attorneys or any judicial authority present to process the transaction, especially if the price of the property ranges to millions.
Benefits of Contract for Deeds
- Speed. The time duration of a property to be sold is quicker compared to those who require full payment from the buyer to own a property.
- Appealing to buyers. A lot of people want to own a house but not everyone will qualify for a mortgage. In the contract, depending on what the two parties agreed, there is a higher chance of granting the dream house to a buyer if he signs for an obligation to pay initial amounts regularly.
- Easy and fast transaction process. The buyer and the seller just need to meet, agree with the terms and conditions, and affix their signatures to start their contract. For this, you may also view our sample Contract Agreement Forms.
Fillable PDF Contract for Deed Form
Blank Contract for Deed Form
Example of Contract for Deed Form
Generic Contract for Deed Form
Vital Parts of Contract for Deed Forms
- Details of the two parties. The contract should state the names of the buyer and the seller to know who are involved in the agreement. The buyer’s source of funds should also be included to assure that he can pay the divided amount of the property on time.
- Description of the property. The type of structure, lot measurement, facilities included, and all other details of the property should be specified clearly.
- Terms and conditions. In this area, the owner or the seller should state what are the sanctions and fees if the buyer does not pay within the allotted time period of the contract.
- Payment details. This is where the form of payment, partial amount, and the total amount of the property are written. The amount of the initial payment is to be agreed upon by the two parties.
- End of contract date. This shows the duration when the buyer is expected to fully pay the balance of his account.
- Signatures. There should be affixed signatures of the seller and the buyer that imply their agreement to the contract. It is also possible that the owner of the property will have a witness and a representative of the authority for legalities.
For samples of more generic Contract Forms, feel free to browse through our site even further.
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