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Contract for Deed

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Penalty & Buyer receive a discount

Can early payments be made without penalty?

Yes No

What type of early payment will be accepted?

Any amount Full amount

What is the penalty for prepayment?

Percentage:

Will the buyer receive a discount if the contract is paid off early?

Yes No

When must the contract be paid off to receive the discount?

Generally the "paid by" date should be prior to the "final payment date" you specified earlier. The amount of the discount is a percentage of the final payment being made. For example, if you state that the buyer will be entitled to a 5% discount for paying off the contract early, the buyer could make a final payment of $142,500.00 on an unpaid balance of $150,000.00.

Paid by

Discount percentage for final payment

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Encumbrances

Is there any debt tied to this property?

Yes No

Who is the creditor?

Name:

Address:

Total Amount of Debt:

$

Will the seller be allowed to use the property as collateral on future loans?

Yes No

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Additional Terms

Who will have possession and use of the property until the contract is paid in full?

Buyer Seller

Has the seller agreed to perform any specific repairs to the property?

Yes No

What types of repairs has the seller agreed to make?

Repair Types

How many days does the seller have to complete the repairs?

Enter the number of days the seller will have to complete repairs after the contract is signed:

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Insurance and Taxes

Who will be responsible for maintaining insurance?

Buyer Seller

Who will be responsible for paying real estate taxes and assessments throughout the term of this contract?

Buyer Seller

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Type of deed will be used to convey the property

What type of deed will be used to convey the property to the buyer upon completion of the contract terms?

Warranty Deed Quit Claim Deed Grant Deed Special Warranty Deed Bargain and Sale Deed Other

What is the name of the deed you will use to convey the property to the buyer upon completion of the contract terms?

Enter the name of the deed:

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Additional Clauses

Do you want to include any additional terms or Conditions?

Yes No

First Additional Clause

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