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(Top 3 inches reserved for recording data)CONTRACT FOR DEED
by Individual(s)Minnesota Uniform Conveyancing Blanks
Form 30.1.1 (2011)DATE:
(month/day/year)THIS CONTRACT FOR DEED (the Contract) is made
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How to fill out contract for deed by

How to fill out contract for deed by
01
Begin by writing the names of the parties involved in the contract, including the seller and buyer.
02
Specify the legal description of the property being sold.
03
Include the purchase price of the property and the terms of payment, such as installment plans or balloon payments.
04
Outline any contingencies or conditions that must be met, such as property inspections or obtaining financing.
05
State the duration of the contract and any renewal or termination options.
06
Include provisions for property taxes, insurance, and maintenance responsibilities.
07
Include any additional terms or agreements that both parties have agreed upon.
08
Ensure that both parties sign and date the contract, and consider getting it notarized for added legal validity.
Who needs contract for deed by?
01
Contract for deed is commonly needed in real estate transactions involving buyers who may not have immediate access to traditional financing options.
02
It is often used when buyers want to purchase a property but do not qualify for a mortgage loan or prefer to avoid the traditional banking process.
03
Additionally, sellers who are willing to finance the sale of their property and grant the buyer gradual ownership may utilize a contract for deed.
04
By using a contract for deed, both buyers and sellers can benefit from a more flexible and customized agreement that suits their specific circumstances.
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