A land real estate contract is an agreement made when a purchaser is interested in buying a land property from a real estate agent or the seller. This contract mentions about all the terms and conditions which are agreed by both the parties.
Sample Land Real Estate Contract:
This agreement is made between the following two parties
First: Mr. Michael Jones herein referred to as the SELLER and
Second: Ms. Kelly Anderson herein referred to as the BUYER
Date: 19’Th octorber, 2010
Location: 56 estate colony, West California
Address: 12.R-7, California
The buyer is interested in buying the land real estate property as mentioned below:
Address: 45, High-end road, California
Area: 1500 esq.
Total cost: $2000
The cost will be paid as follows-
Cash down payment of $500 and equal monthly installments to be paid within first week of every month bearing interest rate of 12.5%.
Terms and conditions:
- The buyer and seller agree to the fact that the property and its ownership responsibilities and title remains with the owner/seller.
- The buyer agrees to take proper care and maintain the property in good condition. He will be responsible for its repair and construction.
- The seller must be sent a notice before the buyer or his team to carry out inspection of the premises.
- The buyer must get the property insured with fire insurance and must carry out other necessary measures for its conservation.
- The buyer cannot lease or sale the property to any third party or individual without written consent from the seller.
Michael Jones (seller)
Kelly Anderson (buyer)