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Homes land contract 2025

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The document is a 'Contract for Deed' outlining the agreement between a Seller and Purchaser for the sale of property in Kentucky. It details the terms of sale, including purchase price, payment structure, responsibilities for taxes and insurance, maintenance obligations, conditions of the property, default remedies, and provisions for possession and reinstatement after default. The contract emphasizes that the property is sold 'as-is' without warranties from the Seller and includes clauses on security interests, attorney fees, late payment charges, and binding effects on heirs and assigns.

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Click ‘Get Form’ to open the homes land contract in the editor.
Begin by filling in the names of the Seller and Purchaser at the top of the document. Ensure that all parties are clearly identified.
In the 'SALE OF PROPERTY' section, provide a detailed description of the property being sold, including its location and any relevant rights associated with it.
Next, specify the purchase price and payment terms in the 'PURCHASE PRICE AND TERMS' section. Choose one of the payment options provided and fill in any necessary amounts.
Complete sections regarding maintenance responsibilities, insurance obligations, and taxes as outlined in the contract. Make sure to select who will be responsible for these costs.
Review all sections carefully for accuracy before signing. Utilize our platform's features to add signatures electronically for convenience.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

Why would a seller do a land contract?

In this arrangement, the seller keeps the deed until you pay off the contract, but youthe buyerare usually responsible for securing and maintaining homeowners insurance to protect both your investment and the sellers interest.

How does a land contract work for a house?

As a type of specialty home financing, a land contract is like a mortgage. However, 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.

What is the downside of a land contract?

Its a seller-financed substitute for mortgage financing, often utilized when property buyers require casting aside mortgages or are unqualified to apply for a loan. A land contract allows buyers to buy land and real estate properties, like commercial buildings, houses, apartment buildings, etc.