Contract to Purchase Land - Cincinnati Area Board of Realtors - cabr 2025

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The document is a legally binding 'Contract to Purchase' for commercial, industrial, or investment land, created by the Cincinnati Area Board of REALTORS®. It outlines the terms of sale including property description, purchase price, contingencies related to financing and inspections, responsibilities of both buyer and seller, and conditions for closing. The contract emphasizes the importance of legal advice and includes provisions for earnest money, proration of taxes, indemnity clauses, and agency disclosures.

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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.

How do I write a simple land purchase agreement?

Identify the names and addresses of both the buyer and the seller. Detail the price of the property and the terms of the purchase. Set the closing date and closing costs. Detail any taxes and other related costs, and establish which party is paying those costs.

How do I make a land purchase agreement?

How to Write a Land Purchase Agreement Step 1 Write the Date of the Agreement. Step 2 Enter Seller and Buyer Information. Step 3 Note Property Description. Step 4 Fill In Purchase Price. Step 5 Enter Financing Details. Step 6 State Any Seller Representations and Warranties. Step 7 Enter Closing Details.

Do realtors get paid on land contracts?

Yes, normally the commission is a percentage of the sale price. In some cases, the realtor will charge a flat fee minimum.

What are the legal issues with using a land contract to purchase a property?

Ownership is unclear The seller retains the property title until the land contract is paid in full. This may pose some issues about who actually owns the property during any legal disputes or insurance claims.

Can I write my own purchase agreement?

Some states, like California, have created real estate purchase agreements you can download and change. You can also get a template from PandaDoc, as well as benefiting from real estate contract management software functionality.

cincinnati area board of realtors

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Does a land purchase agreement need to be notarized?

The answer is that real estate purchase agreements do not need to be notarized or witnessed in order to be legally binding.

How do I set up a land contract?

How to buy a land contract home: 7 steps Find a land contract home. Identifying a land contract property can take time, but options are available. Negotiate the purchase agreement terms. Do your due diligence. Sign the land contract. Move into the home. Begin making installment payments. Pay off the loan.

How do you structure a land contract?

In this section, you will find the key pieces a Land Contract must include. Purchase price. Without a mutually agreed-upon purchase price, the Land Contract cannot be binding. Payment plan. Interest rate. Default protocol and penalties. Rights and obligations.

Contract to Purchase Land - Cincinnati Area Board of Realtors - cabr 2025

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Got questions?

How do I write a simple land purchase agreement?

How do I make a land purchase agreement?

Do realtors get paid on land contracts?

What are the legal issues with using a land contract to purchase a property?

Can I write my own purchase agreement?

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People also ask

Does a land purchase agreement need to be notarized?

How do I set up a land contract?

How do you structure a land contract?

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