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Property Address Zip Code Contract # Uniform Real Estate Sales and Purchase Contract for Lots/Acreage (This form prepared by the Lexington-Bluegrass Association of REALTORS for exclusive use of members).

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How to fill out the Vacant Land Real Estate Contract- Standard online

Filling out the Vacant Land Real Estate Contract- Standard online can streamline your real estate transaction, making it manageable and accessible. This guide provides step-by-step instructions to help you complete the contract effectively and with confidence.

Follow the steps to complete the Vacant Land Real Estate Contract- Standard online.

  1. Click the ‘Get Form’ button to obtain the Vacant Land Real Estate Contract- Standard, and open it in the online editor.
  2. Fill in the property address and zip code at the top of the form. Ensure that you accurately include any identifying information associated with the property.
  3. Enter the contract number in the designated field. This helps in tracking and organizing your paperwork effectively.
  4. In the agreement section, specify the date and complete the blank spaces for the buyer(s) and seller(s) names. Use clear and complete legal names to avoid potential issues.
  5. Describe the property in detail in the property section. Include comprehensive information on the location and any relevant identifiers, ensuring accuracy.
  6. Provide the purchase price in the appropriate field, ensuring that it reflects the agreed amount and details on the earnest money deposit. Check the box for either cash purchase or new financing as appropriate.
  7. Complete the sections detailing the buyer's financing options and the interest rate if applicable. Clarify your financing source and ensure the amounts align with your agreements.
  8. Indicate your understanding of any covenants and restrictions applicable to the property. Check the appropriate boxes based on your review of these documents.
  9. Fill out the proration details, including any dues or fees relevant to the property at closing.
  10. Complete the buyer's opportunity for inspection section, specifying the days allowed for inspection and terms as necessary.
  11. Detail the buyer's obligations, clarifying responsibilities for any repairs or necessary permits required for intended use of the property.
  12. Ensure all necessary fields regarding seller’s representations and warranties are filled. Confirm the zoning classification and any known issues.
  13. Complete the closing and title sections with the closing date and any details regarding title transfer and encumbrances.
  14. Provide information regarding property boundaries and any additional considerations.
  15. Review all sections for accuracy, and then finalize by having all parties sign and date the agreement. Make sure all contact information is clearly provided.
  16. Once completed, ensure to save your changes and choose to download, print, or share the completed form as necessary.

Start filling out your Vacant Land Real Estate Contract- Standard online today for a smoother transaction!

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At a minimum, a land contract should list the address of the real estate and the full legal description of the property, the purchase price, down payment amount, the monthly payment amounts and term, number of payments to be made, and any balloon payment required.

If the seller terminates the contract and follows all the steps required in giving the default notice, the seller can elect to exercise any one or more of the following options upon termination of the contract: Forfeit the deposit. Sue the buyer for damages for default. Resell the property.

names and details of both seller and buyer (In some instances, there is more than one seller or buyer. ... details on the description of the property or properties; purchase price and or financing details; money deposit and insurance; and.

Land contracts are useful instruments for sellers who are selling a home and contemplating carrying the financing for a buyer. It gives sellers a built-in income and generally a better interest rate than rates offered on money market accounts or certificates of deposit.

Default occurs when the buyer in a real estate transaction does not perform according to the terms stipulated in a purchase and sale agreement. ... It's become customary for the seller to keep the earnest deposit in the event the buyer defaults.

If your buyer defaults or terminates without validity, you may accept this and elect to forfeit the deposit. You may also sue for damages. Otherwise you may affirm the contract and ask a court to order "specific performance" of the contract by the buyer.

If the seller terminates the contract and follows all the steps required in giving the default notice, the seller can elect to exercise any one or more of the following options upon termination of the contract: Forfeit the deposit. Sue the buyer for damages for default. Resell the property.

An initial down payment from the buyer to the seller is usually also required. The legal status of land contracts varies between jurisdictions. Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract.

Therefore, sellers usually get a lot of offers when they offer to sell with a land contract. Little or no money down. Depending on the seller, a big down payment is usually not required with a land contract. The buyer can move in as soon as the land contract has been finalized.

A land contract is a form of seller financing. It is similar to a mortgage, but rather than borrowing money from a lender or bank to buy real estate, the buyer makes payments to the real estate owner, or seller, until the purchase price is paid in full.

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© Copyright 1997-2026
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Your Privacy Choices
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
altaFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2026
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232