Land Contract for Seller « All Financial Forms

Land Contract for Seller

Land contract for seller is an important financial form. It is required at the time of selling a parcel of land. This is essentially a contract between the seller of the land, who is termed as the vendor and buyer of the land, who is known as the vendee. This agreement is prepared by both the seller and the buyer.

Crucial Sections of a Land Contract for Seller

Following are the crucial sections of a land contract for seller:

Name and address of the Seller or Vendor
Name and address of the Buyer or Vendee
Property name
Contract price
Interest rate
Mode of payment
Real estate taxes
Encumbrances
Maintenance and Insurance
Assignment
Possession
Delivery of Deed
Default
Special Provisions
General Provisions
Signature of the Seller
Signature of the Buyer
Signature of the Witness
Date of agreement