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When closing a seller-financed real estate deal via a land contract, it’s essential to complete the land contract document, also known as a contract for deed in some regions. This document outlines all terms and conditions that both the buyer and seller must follow throughout the loan duration. Although the process can be intimidating for many, it may be beneficial to have an attorney review and prepare the documents, especially for more complex transactions. However, for simpler deals, such as selling a vacant lot at a low price, the process may be straightforward enough for individuals to handle without extensive legal assistance.
