Land Contract
Land Contract
Table of Contents
-
Introduction
-
Seller Information
-
Buyer Information
-
Legal Service Provider Information
-
Effective Date
-
Land Information
-
Purchase Terms
-
Closing and Transfer of Title
-
Buyer's Representations and Warranties
-
Seller's Representations and Warranties
-
Legal Service Provider's Responsibilities
-
Default and Remedies
-
Miscellaneous Provisions
-
Governing Law and Jurisdiction
-
Signatures
1. Introduction
This Land Purchase Agreement ("Agreement") is entered into on [Effective Date], by and between [Seller's Name], the seller, [Buyer's Name], the buyer, and [Legal Service Provider's Name], the legal provider, collectively referred to as the "Parties."
2. Seller Information
Seller: [Your Name]
Address: [Your Company Address]
Contact: [Your Company Number]
Email: [Your Company Email]
3. Buyer Information
Buyer: [Buyer's Name]
Address: [Buyer's Address]
Contact: [Buyer's Phone Number]
Email: [Buyer's Email Address]
4. Legal Service Provider Information
Legal Provider: [Legal Service Provider's Name]
Address: [Legal Service Provider's Address]
Contact: [Legal Service Provider's Phone Number]
Email: [Legal Service Provider's Email Address]
5. Effective Date
This Agreement shall be effective as of [Effective Date].
6. Land Information
The property being sold is located at [Property Address] and is legally described as [Legal Description]. The property consists of [Property Size] acres/ square feet and is zoned for [Zoning Information]. The property is further described as [Property Description].
7. Purchase Terms
-
Purchase Price: The total purchase price for the property is [Purchase Price], payable as follows:
-
Earnest Money Deposit: The buyer shall deposit [Earnest Money Amount] as earnest money upon signing of this Agreement, which shall be credited towards the purchase price at closing.
-
Down Payment: The buyer shall pay a down payment of [Down Payment Amount] at closing.
-
Balance: The remaining balance shall be paid in full at closing.
-
-
Closing Date: The closing of the purchase shall occur on or before [Closing Date].
-
Closing Costs: The buyer shall be responsible for all closing costs, including but not limited to, title insurance, recording fees, and any applicable taxes.
8. Closing and Transfer of Title
-
Closing: The closing of the purchase shall take place at a location and time agreed upon by the Parties.
-
Transfer of Title: Upon full payment of the purchase price, the seller shall transfer legal title to the property to the buyer by deed.
9. Buyer's Representations and Warranties
The buyer represents and warrants that:
-
They have the legal capacity and authority to enter into this Agreement.
-
They have conducted due diligence on the property and accept it in its current condition.
-
They will comply with all laws, regulations, and ordinances regarding the use and occupancy of the property.
10. Seller's Representations and Warranties
The seller represents and warrants that:
-
They have the legal capacity and authority to enter into this Agreement.
-
They are the lawful owner of the property and have the right to sell it.
-
There are no liens, encumbrances, or restrictions on the property that would prevent the transfer of title to the buyer.
11. Legal Service Provider's Responsibilities
The legal service provider agrees to:
-
Review and draft all legal documents necessary for the purchase of the property.
-
Ensure that the transaction complies with all applicable laws and regulations.
-
Provide legal advice and representation to the Parties as necessary throughout the transaction.
12. Default and Remedies
If either Party fails to perform any obligation under this Agreement, the other Party may pursue all remedies available at law or in equity, including but not limited to, specific performance or termination of this Agreement.
13. Miscellaneous Provisions
-
Entire Agreement: This Agreement constitutes the entire agreement between the Parties regarding the purchase of the property and supersedes all prior agreements and understandings, whether written or oral.
-
Amendment: Any amendment to this Agreement must be in writing and signed by all Parties.
-
Severability: If any provision of this Agreement is held to be invalid or unenforceable, the remaining provisions shall remain in full force and effect.
-
Waiver: The failure of any Party to enforce any provision of this Agreement shall not be construed as a waiver of such provision or the right to enforce it.
14. Governing Law and Jurisdiction
This Agreement shall be governed by and construed in accordance with the laws of [Governing Law]. Any dispute arising out of or in connection with this Agreement shall be resolved in the courts of [Jurisdiction].
15. Signatures
This Agreement shall be signed by all Parties on the date first above written.
Date: [DATE SIGNED]
Printed Name: [Your Name]
Date: [DATE SIGNED]
Printed Name: [BUYER'S NAME]
Date: [Date Signed]
Print Name: [Lawyer's Name]
