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Free Land Contract Template

LAND CONTRACT

I. INTRODUCTION

This Land Contract (the "Contract") is entered into as of January 2, 2050, by and between:

  1. [Your Company Name], with its principal office located at [Your Company Address], represented by [Your Name], [Your Company Email]; and

  2. WinGroup, a corporation duly registered under the laws of the State of Washington, with its principal office at Seattle, WA 98101, represented by Sigmund Corwin, inquire@wingroup.mail.

The parties agree to the following terms governing the sale of real property.

II. DEFINITIONS

For the purpose of this Contract, the following definitions shall apply:

  • "Seller" means [Your Company Name], the entity selling the Property as described herein.

  • "Buyer" refers to WinGroup, the entity purchasing the Property.

  • "Property" refers to the real estate subject to this sale, as outlined in Section III.

  • "Purchase Amount" refers to the total agreed-upon price for the Property, as specified in this Contract.

III. PROPERTY DESCRIPTION

The Property being sold by Seller to Buyer under this Contract is situated at 2345 Birchwood Lane, Seattle, WA 98101, and is legally described as:

  • Property Type: Vacant Commercial Land

  • Parcel ID: 112-233-445

  • Size: 7 Acres

  • Legal Description: Lot 2, Block 3 of Birchwood Subdivision, according to the official plat recorded in the King County Public Records, Washington.

The Property is sold on an "as-is" basis, with no warranties or guarantees from Seller, except as expressly mentioned in this Contract.

IV. PURCHASE PRICE AND TERMS OF PAYMENT

  1. Purchase Price: The agreed total price for the Property is $850,000, to be paid by Buyer to Seller as follows:

    • A deposit of $85,000 is due upon the execution of this Contract.

    • The remaining balance of $765,000 is due at closing.

  2. Payment Method: The full payment shall be made via wire transfer to a bank account designated by Seller.

V. CLOSING AND TRANSFER OF TITLE

  1. Closing Date: The closing shall take place no later than March 15, 2050, unless mutually extended by both parties in writing.

  2. Closing Costs: Each party shall bear the following costs:

    • Seller shall be responsible for: preparing the deed and paying for any title-related fees.

    • Buyer shall be responsible for: paying for the title insurance, closing agent's fees, and recording fees.

  3. Documents Required at Closing:

    • A warranty deed transferring clear title of the Property from Seller to Buyer.

    • A title report confirming clear title to the Property.

    • Additional documents required by Buyer’s financing institution, if applicable.

VI. WARRANTIES AND REPRESENTATIONS

  1. Seller’s Warranties:

    • The Seller warrants it holds clear title to the Property and has the right to sell it.

    • The Property is free from any encumbrances or claims except as disclosed to the Buyer prior to closing.

  2. Buyer’s Warranties:

    • The Buyer affirms that it has the authority to purchase the Property and has completed the necessary due diligence.

    • Buyer will ensure all financing arrangements are in place for timely payment at closing.

VII. DEFAULT AND REMEDIES

  1. Seller’s Default: In the event the Seller fails to meet any obligations set forth in this Contract, the Buyer may elect to:

    • Terminate the Contract and recover any deposits made, or

    • Seek enforcement of the Contract through legal means.

  2. Buyer’s Default: Should the Buyer fail to perform, the Seller may choose to:

    • Terminate this Contract and retain the deposit as liquidated damages, or

    • Seek legal recourse to enforce this Contract.

VIII. GOVERNING LAW

This Contract shall be governed by the laws of the State of Washington, without regard to its conflict of laws provisions.

IX. SIGNATURES

The parties hereby execute this Contract as of the date first above written.

For Seller: [Your Company Name]

By: [Your Name]
Title: Chief Executive Officer
Date: January 2, 2050

For Buyer: WinGroup

By: Sigmund Corwin
Title: Chief Executive Officer
Date: January 2, 2050

For any further inquiries or information, please reach out to [Your Name] at [Your Email] or [Your Company Email].

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