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?
Legal description: Contract for the purchase and sale of land upon execution of which title is transferred. Term commonly refers to an installment contract for the sale of land whereby purchaser (vendee) receives the deed from the owner (vendor) upon payment of final installment. Then vendor retains legal title to the property as security for payment of contract price. May also be called "contract for deed", or installment land contract"

Installment Land Contract: Type of contract by which buyer is required to make periodic payments towards purchase price of land and only on the last payment is the seller required to deliver deed. U.C.C. §2-612

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

- One, you will need a piece of land to sell :)
- 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 long will the land buyer pay you the money owed for the full amount of your lot or acreage.

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.