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It is an agreement for sale in Arizona between two individual parties for the purchase of real estate. If you can find a contract for deed land for sale, it is a type of seller financing where you make payments to the owner of the real estate instead of a bank.
Description Arizona Vacant Land Lot Purchase Contract A Contract for Deed is used as owner financing for the purchase of real property. The Seller retains title to the property until an agreed amount is paid. After the agreed amount is paid, the Seller conveys the property to Buyer.
How to Write and File a Quitclaim Deed in ArizonaStep 1: Find the appropriate document and download it to your computer.Step 2: Add the name and address of the person preparing the document.Step 3: Add the name and address of the person who will receive the deed when the recorder's office is done with it.More items...
Other disadvantages include the possibility of the seller going bankrupt, going missing or dying, which would put the property into probate and jeopardize the buyer’s contract.