When it comes to selling land, it`s important to have a clear and concise contract in place to ensure both parties are protected and aware of their responsibilities. Here`s a sample contract that can be customized to fit your specific needs:
PARTIES
This agreement is made and entered into this [insert date] by and between [insert name of seller], hereafter known as “Seller,” and [insert name of buyer], hereafter known as “Buyer.”
PURCHASE
Seller agrees to sell and Buyer agrees to purchase the following property (hereafter known as “Property”):
[Insert legal description of Property]
PURCHASE PRICE
The purchase price for the Property shall be [insert purchase price] payable as follows: [insert payment terms].
CONDITION OF PROPERTY
The Property is being sold “as-is” without any warranties or representations as to its condition. Buyer has had the opportunity to inspect the Property and agrees to accept it in its present condition.
TITLE
Seller warrants and represents that they are the legal owner of the Property, free and clear of any liens, encumbrances, or other claims. Seller will provide Buyer with a title insurance policy at closing.
CLOSING
Closing shall occur on or before [insert closing date] at [insert location]. Buyer and Seller agree to execute all necessary documents and pay all closing costs associated with the sale of the Property.
DEFAULT
If Buyer fails to complete the purchase or breaches any provision of this agreement, Seller shall have the right to terminate this agreement and retain any deposits made. If Seller fails to complete the sale or breaches any provision of this agreement, Buyer shall have the right to terminate this agreement and receive a refund of any deposits made.
GOVERNING LAW
This agreement shall be governed by and construed in accordance with the laws of [insert state].
ENTIRE AGREEMENT
This agreement constitutes the entire agreement between Buyer and Seller and supersedes any prior negotiations or understandings. This agreement may only be amended in writing and signed by both Buyer and Seller.
CONCLUSION
When it comes to selling land, having a solid contract in place can prevent potential legal disputes and protect both parties. Be sure to consult with an attorney and customize the contract to fit your specific needs.