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If the land contract contains a forfeiture clause and the buyer defaults on payments, the seller can end the contract, take possession of the property, and keep the payments made by the buyer.

When full payment is completed, then the Seller gives the Buyer a deed transferring legal title to the property. Usually, the Buyer takes possession of the property after signing the land sales contract. The Buyer can stay there as long as he lives up to the contract and makes all payments to the Seller.

How To Sell A House In West Virginia (Without A Realtor) Scope Out the Competition (Be A Nosey Neighbor) Give West Virginia Buyers What They Want. Analyze West Virginia's Real Estate Market Data for a Correct Listing Price. Make Sure Your Real Estate Photographs Don't Suck.

Seller retains title A major drawback of a contract for deed for buyers is that the seller retains the legal title to the property until the payment plan is completed. On one hand, this means that they're responsible for things like property taxes. On the other hand, the buyer lacks security and rights to their home.

To be enforceable, a land sale contract must satisfy the Statute of Frauds, which generally requires that these contracts be in writing and signed by the parties. Note that this writing is apart from the instrument under which the actual transfer takes place, which is known as the ?deed.?

Step 6: Close the Sale with a Professional It is not mandatory to hire an attorney for selling a house in West Virginia without a Realtor. However, we recommend you hire one. A licensed real estate attorney will help you draft all the closing documents and minimize the legal risks.