When selling your land, and you plan on financing your new land buyer, here is a quick and simple way to draft up a Land Contract, or Contract for Deed. This 2 page Land Contract will get you started. Includes most standard clauses that protects you, the land seller in most situations.

What is a Land Contract
A Land Contract is a binding legal agreement, between the land seller, and an interested buyer. It has also been called and a Contract For Deed. Title is transferred when the full terms of the Land Contract have been satisfied. The ownership title stays with the land seller, till the final payment has been made by the buyer. When the terms of the Land Contract have been meet, it is the responsibility of the land seller to give the Buyer, title to the new owner and record or deliver the Deed in favor of the buyer, named in the land contract. This is also called a contract for deed. Here is more information on How To Use A Land Contract

An Installment Land Contract is a type of contract by which the buyer is required to make periodic monthly payments towards an agreed purchase price of land or other real estate and only on the last payment is the seller required to deliver deed.

Here's the way most use this Land Contract form.

- One, you will need the legal description, usually from your deed
- Two, Interest Rate. Determine the amount of interest you would like to charge the land buyer for the term of loan.
- Three, The term of the loan. How long will the loan be for? How many monthly payments, and will there be a balloon payment at the ending date specified in your land contract agreement.

Here are some of the benefits for selling your land with a land contract. Probably the most important reason, is that you can sell your land with minimal down payment, allowing the first time property buyer to purchase your land, while still maintaining ownership till the contract is paid off. The need to do a judicial foreclosure is not necessary if your land buyer defaults. Eliminating this alone can save you upwards of several thousand dollars.

This land contract is viewable and editable in Microsoft Wordpad. Since every State is a little different, we advise you to check your local laws regarding financing this way. At minimum, have a self help legal assistant proof read it, or have your attorney review for larger sales transactions.

Here is more information about selling and buying real estate using a Land Contract.