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How much does it cost to have a land contract drawn up?

With a traditional land contract agreement, the seller maintains ownership of the home until the contract is paid off. Buyers receive equitable title but not the legal title this means that they can benefit from the homes appreciation in value, but cant transfer property ownership.

What is the downside of a land contract?

ContractsCounsels marketplace data shows the average land contract drafting costs are $550 across all states and industries.

What is a land contract in Arizona?

Land contracts (aka land installment contracts or contracts for deed) are agreements in which a homebuyer makes regular payments to the seller but the deed does not transfer at the outset; instead, the seller retains full ownership of the property until the final payment.

Are land contracts legal in Arizona?

Answer: Yes. In Arizona this contract for deed is called an Agreement for Sale, A.R.S. 33-741, and is basically seller-financing for the buyers purchase of real property, e.g., your 40 acres of land.

What makes a contract legal in Arizona?

In Arizona, most real estate contracts are assignable unless explicitly stated otherwise in the agreement. Certain conditions may affect this, however. For example, contracts involving personal services or that require specific qualifications of the parties may not be assignable.

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