The Contract For Land Related Services form, agreement is entered into by the parties shown on the execution page of this agreement, the parties are referred to as the Company and the Contractor. By the agreement, company engages the services of a contractor as an independent contract landman on terms and conditions.
North Carolina Contract For Land Related Services
Category:
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Multi-State
Control #:
US-OG-438
Format:
Word;
Rich Text
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FAQ
What should a land contract contain? Sale price of the property. Interest rate the buyer will pay. Down payment amount. Monthly (or periodic) payment amount. Amount and due date of balloon payment at the end of the contract, if applicable. Loan term, or how long the buyer has to pay off the purchase price.
Any purchase agreement should include at least the following information: The identity of the buyer and seller. A description of the property being purchased. The purchase price. The terms as to how and when payment is to be made. The terms as to how, when, and where the goods will be delivered to the purchaser.
Which of the following BEST describes a land contract or installment contract? The answer is a method of selling real estate whereby the purchaser pays in regular installments while the seller retains title. An installment contract combines elements of both a sale and a finance document into one legal instrument.
An installment contract (also called a land contract or articles of agreement for warranty deed or contract for deed) is an agreement between a real estate seller and buyer, under which the buyer agrees to pay to the seller the purchase price plus interest in installments over a set period of time.
What Is A Land Contract? A land contract is a written legal contract, or agreement, used to purchase real estate, such as vacant land, a house, an apartment building, a commercial building or other real property. As a type of specialty home financing, a land contract is similar to a mortgage.
? An agreement, whether denominated a "contract for deed," "installment land contract," "land contract," "bond for title," or any other title or description in which the seller agrees to sell an interest in property to the purchaser and the purchaser agrees to pay the purchase price in five or more payments exclusive ...
An installment land contract is also known as: A contract for deed.
For an interest-only payment, simply multiply the amount financed by the interest rate, and divide the result by the number of installments in a year. For example, the monthly interest payment on a $200,000 land contract home with an 8% interest rate after a 10% down payment would be $1,200.