Why do I need the contract for the sale of land?

Some oral agreements can’t be enforceable unless they are written and signed. These requirements are basic part for the contract for the sale of land. Such a contract should contain all the terms to which parties involved have expressly agreed. Under the conditions mentioned in the contract for the sale of land the vendor provides the purchaser financing in the buying and purchaser repays the resulting loan in installments. This document is generally formed by incorporating standard conditions. For residential contracts the current form is the Standard Conditions of Sale, and for commercial the Standard Commercial Property Conditions. A landlord, nevertheless retains the legal title to the estate. A buyer may dispose of the state and use for the purpose other than legal ownership. Generally, the sale price is paid in periodic installments. Once the initial down payment is done, the seller has to convey legal title to the property. The parties may decide to exclude or vary basic conditions. Exclusions or variations will be set out in the special conditions and will prevail over the standard conditions.

How to prepare the contract for the sale of land correctly?

To prepare this document, use the fillable template, that is available online. Just insert the required information and sign the document to make it legally binding.
Here is the list of information to include in the land sale contract sample:

• personal details of the parties; 
• description of estate; 
• details about price and financing; 
• closing date and occupancy; 
• closing procedure and costs; 
• property condition; 
• information about title; 
• other conditions and requirements; 
• effective date; 
• signatures of both parties.