A vacant land sales contract is a contract made between the vendor and the vendee of a vacant land space. This contract mentions all the details regarding the property, its price and others.
Sample Vacant Land Sales Contract:
The Agreement made on: 18’Th October, 2010 At: Greg road, house no. 3, Atlanta
Name: Michael Newton
Address: 13, kell villa, Atlanta
Phone: 429478209490 and
Name: Hensley Andrew
Address: 1-f, jip avenue, Atlanta
Property under discussion:
The property under discussion occupies 2000 Esq. Land area and is priced at a non negotiable price of $2400. The address of the property is 45, Polk town, Atlanta.
The land is 5 years old and was commercial land earlier.
The payment shall be done through credit card and the initial cash down amount will be $1200.
The cash down amount will be paid one week before the commencement of the contract.
Effective date: 1’st November, 2010
The balance would be paid through installments within the first week of every month.
Terms and conditions:
- The seller shall hold and retain all the ownership rights and the title to the land until the full payment is made.
- The buyer must take written consent of the seller before any construction over the vacant land.
- The buyer must acquire fire insurance and insurance against loss due to any natural calamity such as earthquakes.
- The seller will have right to inspection of property. He must send written prior notice to the buyer before doing so.
Michael Newton Hensley Newton