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.
Land Contract Georgia With Utilities
Category:
State:
Georgia
Control #:
GA-00470
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Word;
Rich Text
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How to fill out Georgia Agreement Or Contract For Deed For Sale And Purchase Of Real Estate A/k/a Land Or Executory Contract?
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FAQ
The most significant disadvantage of a land contract is the amount of risk both parties take on.
Originally referred to as a bond for title, a contract for deed can be called several other names including a land contract, agreement for deed or installment sales contract. Under Georgia law, all these agreements are treated synonymously.
(Rupees ), will be received by the FIRST PARTY from the SECOND PARTY, at the time of registration of the Sale Deed, the FIRST PARTY doth hereby agree to grant, convey, sell, transfer and assign all his rights, titles and interests in the said portion of the said property, fully
The seller transfers the property deed to the buyer when land contracts are paid in full. They complete the process by filing the necessary legal documents with the County Clerk and Recorder's Office in which the property is situated. The County Clerk will record the new ownership information.
You may offer a lower amount than the asking price and the seller in turn will counter with an offer higher than yours. The key is to head to the negotiations table with your well conducted research in hand. Don't waste time playing games or questioning the seller's integrity, warns King.