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LAND CONTRACT This Contract, made this day of, 20, between, hereinafter referred to as the Seller “, whose address is, and, hereinafter referred to as the Purchaser whose address is. Witnessed:
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How to fill out land contract - fntic
How to fill out a land contract - FNTIC:
01
Begin by gathering all necessary information such as the buyer's and seller's names, contact details, and property address.
02
Use a standard land contract form provided by FNTIC or consult with a real estate attorney to ensure compliance with local laws and regulations.
03
Fill in the terms and conditions section, including the purchase price, payment schedule, interest rate (if any), and any contingencies.
04
Specify the responsibilities of both parties, such as maintenance, property taxes, insurance, and any other relevant obligations.
05
Include any additional provisions or conditions that are important for the transaction, such as seller financing terms or special requests.
06
Ensure that both parties carefully review and understand the contract. Seek legal advice if needed.
07
Sign and date the contract, making sure that all parties involved in the transaction sign as well.
08
Keep a copy of the contract for your records and provide copies to all parties involved.
Who needs a land contract - FNTIC:
01
Individuals or entities involved in a real estate transaction where the seller is providing financing to the buyer.
02
Buyers who may not qualify for traditional bank financing or prefer a more flexible payment plan.
03
Sellers who want to sell their property while also generating income from interest payments or in cases where it is difficult to find a buyer who can secure a mortgage loan.
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