Mississippi Real Estate Contract

The buyer must record the contract for deed with the county recorder where the land is located within four months after the contract is signed. Contracts for deed must provide the legal name of the buyer and the buyer's address.

The buyer should record the contract for deed with the county recorder where the land is located and does so normally within four months after the contract is signed, though the time may vary depending on state law.

Once signed and notarized, a Mississippi deed must be recorded. The deed must be presented to the Recorder of Deeds in the county where the property is located. The transfer takes effect when signed and accepted by the grantee. However, recording provides notice to the public that the property was transferred.

Find the right property. Acquire a real estate contract template. Submit the contract. Assign the contract. Collect the fee.

Purchase price. Down payment. Interest rate. Number of monthly installments. Responsibilities of the buyer and seller. Legal remedies for the seller if the buyer does not make payments.

Find a motivated seller. First, let's understand what a motivated seller is. Get the contract. Submit contract to title. Assign the contract to the buyer. Get paid!

In the first instance, if your deed is not recorded, there is nothing in the public record to stop the seller from conveying the property to another person.The second situation could happen if your seller fails to pay his or her debts and the seller's creditors file liens or judgments against your property.

Generally, contract for deed sellers use IRS Form 6252 to report installment sales in the year in which they take place. You also use Form 6252 during each year you receive income from your contract for deed.