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When it comes to purchasing land, it’s important to have a legally binding contract to ensure that both the buyer and the seller are protected. A land purchase contract outlines the terms and conditions of the sale, including the purchase price, payment schedule, closing date, and any contingencies. Here is a sample land purchase contract that you can use as a reference:

Property Details

The first section of the land purchase contract should outline the details of the property being sold, including the address and legal description. It should also include information on any zoning restrictions, easements, or encumbrances that may affect the property.

Purchase Price and Payment Schedule

Next, the contract should specify the purchase price of the land and the payment schedule. This section should outline how much the buyer is paying upfront, how much is being financed, and any interest rates or fees associated with the financing.

Closing Date

The closing date is the date on which the sale of the land will be finalized. This section should specify the date and location of the closing, as well as any paperwork or fees that will need to be signed or paid.

Contingencies

Contingencies are conditions that must be met before the sale can be finalized. For example, the contract may be contingent on the buyer obtaining financing, or on the property passing a home inspection. This section should outline all of the contingencies and the timeline for meeting them.

Seller Representations and Warranties

The seller should also make certain representations and warranties about the property, such as that they own the property free and clear, that there are no outstanding liens or encumbrances, and that there are no environmental issues affecting the property.

Closing Costs

Finally, the contract should specify who will be responsible for paying the closing costs, including any attorney fees, title insurance, or recording fees.

Using a sample land purchase contract as a guide can help ensure that your contract covers all of the necessary details and that both the buyer and the seller are protected. Be sure to consult with an experienced real estate attorney to ensure that your contract meets all legal requirements and protects your interests as a buyer or seller.