A secured lender shall prepare and deliver a payoff demand statement to the person who has requested it within fourteen days after receipt of the demand. When a land contract has been paid in full, it is the seller's responsibility to provide a proper deed of conveyance to the buyer.What is a Payoff Agreement? A payoff agreement is an informal contract in which a creditor agrees to accept the balance of a debt owed as full payment. Land Contract Payoff Request - Free download as PDF File (. To request a payoff quote, please complete the payoff quote form. Payoff of first mortgage loan. 103. Settlement charges to borrower (line 1400). 403. 108. Assessments. 408. Assessments. 205. 505. A closing agent(Fla attorney), not an escrow like here in Calif. , sent me this payoff letter.