Fill and Sign the Sample Land Contract Rurallawcenterorg Form

CONTRACT FOR SALE (of Land) State: _____________________________County: _____________________________Seller: _____________________________ (Name and Address)Buyer: _____________________________ (Name and Address) Seller, named above, agrees to sell and convey to Buyer, named above, all of Seller's interest in certain lands located in the county and state named above, on the following terms and conditions. 1. Lands to be Purchased. Buyer agrees to purchase and Seller agrees to sell all of Seller's rights, title, and interests in the lands described in Exhibit “A” to this Contract (the “Lands”). The Lands shall be deemed to include all of Seller's interest, if any, in agreements affecting the lands. 2. Effective Date. The Effective Date of this transaction shall be _____________________________ (the “Effective Date”). Seller will be entitled to all revenues and responsible for all expenses (subject to the provisions of paragraph 4. below) relating to the Lands accruing or arising prior to the Effective Date. Buyer will be entitled to all revenues and responsible for all expenses (including those provided for in paragraph 4. below) relating to the Lands accruing or arising from and after the Effective Date. 3. Purchase Price. At Closing, Buyer shall pay to Seller, or Seller's designated agent, the Purchase Price of $__________ (in U. S. Funds by certified/cashier check or wire transfer, as directed by Seller), for the Lands, which amount is subject to reduction as provided for in paragraph 5. below. At Closing, as provided for in paragraph 6. below, Buyer and Seller shall execute a Closing Statement stating the Purchase Price, any adjustments to the Purchase Price as provided in paragraph 5., and the resulting total amount to be paid by Buyer to Seller. 4. Representations, Warranties and Indemnity. a.
Representative. A representative named on the closing statement shall be identified by the name of the seller and the name of the buyer (if known). In the event of no such representative, a certified or registered letter of attorney or notarized deed executed by an authorized attorney of a named or named representative, or a notarized deed executed by the buyer's representative, shall be sufficient in lieu of a notarized deed or notarized letter of attorney. Seller shall designate an agent who shall receive and be responsible for all correspondence and communications concerning the transaction, and, if necessary, file a statement in any court or other proceeding. B. Representation of purchaser at closing. A purchaser at closing shall be represented (a) as the buyer's agent to the seller as to all legal and financial matters relating to the lands at close, (b) as the purchaser's agent to the seller as to all matters relating to the transaction (including the closing statement), (c) as responsible for all fees of the agent to the seller, and (d) as the agent of the seller to any lender and other third-party party having an interest in the transaction. A buyer at closing may represent the seller as the maker of an irrevocable gift to the purchaser in full satisfaction of all obligations and the holder of title to the land. Sellers represent they, in good faith, are the sole authors of any written or oral declaration or contract, or other instrument executed or purported to be executed by the buyer in connection with the land. 5. Buyer's agent's fee. Seller will pay to such agent a fee of (in u. S. Funds by certified/cashier check or wire transfer, as directed by seller), for services to the buyer and for each written or oral declaration for the purchase of the land which was executed by such agent. Such fee shall be payable in u. S. Funds and/or in cash, as directed by the seller, and shall not be reduced except as provided under paragraph 6. 6. Seller's title to the lands. The seller of real estate or a principal in the business thereof, who executes a written or oral declaration for the purchase of the real estate or such principal by a purchaser at closing shall be the effective owner of the property, together with the rights, title, and interests of all co-owners of record, as set forth in the original deeds for the property. A buyer at closing may not transfer his title to the land until such written or oral declaration is executed by.