Utah Contract for Deed Package

State:
Utah
Control #:
UT-P023-PKG
Format:
Word; 
Rich Text
Instant download

Description Discounted Deed Purchase

This package contains essential legal documents that are used for owner financing of real estate by using a Contract for Deed. The documents in this package are State Specific and include the following:


This package contains the following forms:


1.) A Contract for Deed;

2.) Assignment of Contract for Deed by Seller;

3.) Notice of Assignment of Contract for Deed;

4.) Seller's Disclosure of Financing Terms;

5.) Seller's Annual Accounting;

6.) Notice of Default for Past Due Payments;

7.) Final Notice of Default for Past Due Payments;

8.) Notice of Intent to Enforce Forfeiture Proceedings;

9.) Final Notice of Intent to Enforce Forfeiture Proceeding and Request to Vacate;

10.) General Notice of Default; and

11.) Seller's Disclosure of Forfeiture Rights



Purchase this package and save up to 70% over purchasing the forms separately!

Free preview Seller Serves Disclosure
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How to fill out Seller Contract Retains?

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Contract For Deed Package

Are you going to buy or sell property using a Contract for Deed? Simplify the process with US Legal Forms. Just answer a few questions to get a professionally drafted package of state-specific forms.

Utah Contract Package Printable Form popularity

P023 Contract Default Other Form Names

Ut Contract Deed   Forfeiture Contract Disclosure   Contract Purchase Retains   Rarely Seller Utah   Utah Contract Package Blank   Seller Planned Utah   Seller Contract Purchase  

P023 Deed Payment FAQ

Interest rates on land contracts can vary dramatically, and buyers and sellers ultimately call the shots on the loan's rate. That said, interest rates typically stay under 12%, Smith said. Federal loan regulations, as well as state usury laws, restrict sellers from overcharging interest fees.

The memorandum of land contract is an abbreviated legal document referencing the land contract itself.The memorandum should list the address and legal description of the property as well as the names of the buyer and seller, and the date of the land contract. This document should be notarized and signed by the seller.

2. A closing IS performed, and real estate professionals are paid, if any are involved. They are NOT paid at the expiration/maturity of the land contract, that is, when the buyers payoff the land contract.

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.

The seller. The buyer. The property. The selling price. The down payment. The installment and balloon payments. The length of the contract.

The interest rate on a contract for deed loan is typically 3% - 6% higher than the rate on regular mortgage. A higher interest rate means a higher monthly mortgage payment plus you are also responsible for property taxes and insurance even though you do not own the property.

Negotiate the basic terms. State the purpose of the contract and the identity of the parties on the first page. Identify the property using its legal description. State the amount of the down payment if any. List the purchase prince, the interest rate, and the total purchase price (purchase prince plus total interest.)

A land contract should spell out the purchase price, down payment, payment schedule, installment amount, interest rate, loan term and balloon payment amount, if applicable. Responsible party for home repairs. The buyer and seller agree upfront on who will make and pay for home repairs.

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Utah Contract for Deed Package