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When closing a seller-financed real estate deal with a land contract, it's crucial to focus on the land contract document itself, also known as a contract for deed in certain areas. This document outlines the terms and conditions that both buyer and seller must follow for the duration of the loan. Although this process can be intimidating, it may be beneficial to have an attorney review the information and prepare the necessary documents. However, for simpler transactions, such as selling a vacant lot at a low price, the deal may not require extensive legal complexity, allowing for a more straightforward approach.
