$15.95

Add to cart

District of Columbia ser Date _______________________ _______________________ _______________________ ________________________ Agent Date Agent Date ________ _______________________ ________________________ Seller Date Seller Date _______________________ _______________________ _______________________ ________________________ Purchaser Date Purchafollowing parties have reviewed the information above and certify, to the best of their knowledge, that the information they have provided is true and accurate. _______________________ _______________ledgment (initial) (e)------ Agent has informed the Seller of the Seller's obligations under 42 U.S.C. 4852d and is aware of his/her responsibility to ensure compliance. Certification of Accuracy The nt and/or lead-based paint hazards; or (ii) _____ waived the opportunity to conduct a risk assessment or inspection for the presence of lead-based paint and/or lead-based paint hazards. Agent's Acknowome. (e) Purchaser has (check (i) or (ii) below): (i) _____ received a 10-day opportunity (or mutually agreed upon period) to conduct a risk assessment or inspection for the presence of lead-based paiing. Purchaser's Acknowledgment (initial) (c) _____ Purchaser has received copies of all information listed above. (d) _____ Purchaser has received the pamphlet Protect Your Family From Lead In Your Hrds in the housing (list documents): ______________________________________________ (ii)____ Seller has no reports or records pertaining to lead-based paint and/or lead-based paint hazards in the housnd reports available to the Seller (Check (i) or (ii) below): (i) _____ Seller has provided the Buyer with all available records and reports pertaining to lead-based paint and/or lead-based paint hazaare present in the housing (explain): ______________________________________________ (ii) ____ Seller has no knowledge of lead-based paint and/or lead-based paint hazards in the housing. (b) Records aded prior to purchase. Seller's Disclosure (a) Presence of lead-based paint and/or lead-based paint hazards (Check (i) or (ii) below): (i) _____ Known lead-based paint and/or lead-based paint hazards risk assessments or inspections in the seller's possession and notify the Buyer of any known lead-based paint hazards. A risk assessment or inspection for possible lead-based paint hazards is recommenoisoning also poses a particular risk to pregnant women. The seller of any interest in residential real property is required to provide the Buyer with any information on lead-based paint hazards from poisoning. Lead poisoning in young children may produce permanent neurological damage, including learning disabilities, reduced intelligence quotient, behavioral problems, and impaired memory. Lead pperty on which a residential dwelling was built prior to 1978 is notified that such property may present exposure to lead from lead-based paint that may place young children at risk of developing lead_____________ - 14 - Buyer _________________ Disclosure of Information on Lead-Based Paint and/or Lead-Based Paint Hazards Lead Warning Statement Every Buyer of any interest in residential real pro________ ____________________________ ____________________________ Initials Seller _________________ - 13 - Buyer _________________ EXHIBIT "A" Legal Description of Property: Initials Seller ______________________________________ (SEAL) Name typed, printed, or stamped ________________________________________________ My Commission Expires This instrument was prepared by: ____________________TNESS my hand and official seal, this ___________ day of ___________, 20___. ________________________________________________ Signature of person taking acknowledgment (Notary Public) ______________to be the person(s) described in and who executed the foregoing instrument, and acknowledged to and before me that _____________________ executed said instrument for the purposes therein expressed. WI_ - 12 - Buyer _________________ State of __________________________) ) ss County of ________________________) Before me personally appeared _____________________ to me well known and known to me blic) ________________________________________________ (SEAL) Name typed, printed, or stamped ________________________________________________ My Commission Expires Initials Seller ________________therein expressed. WITNESS my hand and official seal, this ___________ day of ___________, 20___. ________________________________________________ Signature of person taking acknowledgment (Notary Punown and known to me to be the person(s) described in and who executed the foregoing instrument, and acknowledged to and before me that _____________________ executed said instrument for the purposes ller _________________ - 11 - Buyer _________________ State of __________________________) ) ss County of ________________________) Before me personally appeared _____________________ to me well k___ Buyer _____________________________ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Initials Se_________________ Date ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Signature _______________________ ______________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Signature __________________________ Buyer ___________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Signature __________________________ Seller __ ___________________________ DateREOF, the Parties have hereunto set their hands and seals the day and year first above written. Signature __________________________ Seller __ ___________________________ Date _______________________ IS INTENDED TO BE A LEGALLY BINDING CONTRACT. CONSULT AN ATTORNEY AND A TAX PROFESSIONAL BEFORE SIGNING IT, TO MAKE SURE YOU UNDERSTAND ALL OF THE TERMS AND LEGAL AND TAX CONSEQUENCES. IN WITNESS WHE________________________________________________ _____________________________________________________________________________ Initials Seller _________________ - 10 - Buyer _________________ THIS______________ _____________________________________________________________________________ _____________________________________________________________________________ _____________________________amendment, discharge or termination is sought, and then only to the extent set forth in such instrument. ADDITIONAL AGREEMENTS Seller and Buyer additionally agree that: _______________________________nor any provision hereof may be waived, modified, amended, discharged, or terminated except by an instrument in writing signed by the party against which the enforcement of such waiver, modification, ween the parties with respect to the transaction contemplated herein.. It replaces and supersedes any and all oral agreements between the parties, as well as any prior writings. Neither this Contract pewritten or handwritten provisions inserted herein or attached hereto as Addenda shall control all printed provisions in conflict therewith. ENTIRE AGREEMENT This Contract is the entire agreement betenever the context hereof shall require, the singular shall include the plural, the male gender shall include the female gender and the neuter, and vice versa. TYPEWRITTEN OR HANDWRITTEN PROVISIONS Ty______ COUNTERPARTS This Contract may be executed in several counterparts, each constituting a duplicate original, but all such counterparts constituting one and the same Agreement. INTERPRETATION Whors, personal representatives and assigns. However, nothing shall authorize a transfer in violation of any other provisions in the Agreement. Initials Seller _________________ -9- Buyer ___________ision at a later time. BINDING EFFECT This Agreement and covenants herein shall be binding upon and shall inure to the benefit of the parties hereto and their successors, heirs, executors, administratpose for which the waiver was given. If either party fails to exercise or delays exercising any of its rights or remedies under this contract, that party retains the right to enforce that term or provcessary to render it valid and enforceable. WAIVER If one party waives any term or provision of this contract at any time, that waiver will only be effective for the specific instance and specific purceability will affect only that provision and will not make any other provision of this contract invalid or unenforceable and such provision shall be modified, amended or limited only to the extent neition to any other relief to which the prevailing party may be entitled. SEVERABILITY If any court determines that any provision of this contract is invalid or unenforceable, any invalidity or unenforrising out of this Agreement, the prevailing party shall be entitled to recover reasonable attorney's fees and court costs, and all other expenses, whether or not taxable by the court as costs, in adddiction over the matter. Costs of arbitration, including lawyers' fees, will be allocated by the arbitrator. ATTORNEY FEES AND COSTS In connection with any litigation including appellate proceedings ater it is referred to the mediator, it will be arbitrated by ______________________. an arbitrator to be mutually selected. Judgment on the arbitration award may be entered in any court that has jurisator equally. Each party will cooperate fully and fairly with the mediator and will attempt to reach a mutually satisfactory compromise to the dispute. If the dispute is not resolved within 30 days af dispute arises, the parties will try in good faith to settle it through mediation conducted by ______________________. a mediator to be mutually selected. The parties will share the costs of the medictory compromise to the dispute. If the dispute is not resolved within 30 days after it is referred to the mediator, either party may take the matter to court. Mediation and Possible Arbitration. If a_____ -8- Buyer _________________ The parties will share the costs of the mediator equally. Each party will cooperate fully and fairly with the mediator and will attempt to reach a mutually satisfaLitigation. If a dispute arises, the parties will try in good faith to settle it through mediation conducted by ______________________. a mediator to be mutually selected. Initials Seller ____________ the laws of the State of ________________________________. DISPUTES (select appropriate provisions) Litigation. If a dispute arises, either party may take the matter to court. Mediation and Possible which might or does affect the conveyance contemplated hereunder. GOVERNING LAW This Contract, and all transactions contemplated hereby, shall be governed by, construed and enforced in accordance withative proceedings, including cases, pending or threatened or similar proceedings affecting the Property or any portion thereof, nor has Seller knowledge that any such action is presently contemplated line shall include the feminine and neuter where the context so admits or requires. PENDING LITIGATION Seller warrants and represents that there are no legal actions, suits or other legal or administror closing agent is a party to this Contract. SINGULAR, PLURAL AND GENDER The words "Seller" and "Buyer" herein employed shall be construed to include the plural as well as the singular, and the mascuterms "Seller" or "Buyer" shall be construed to read "Sellers" or "Buyers" whenever the sense of the Contract requires. Unless identified as Seller or Buyer, no real estate professional, escrow agent er's interest, such conveyance shall not be a cause for rescission of this Contract and shall be subject to the terms of this Contract. PARTIES If Seller or Buyer constitutes two or more persons, the l not sell, assign, transfer or convey any interest in the Property or this Agreement, without the prior written consent by Seller. In the event Seller gives Buyer permission to transfer or convey Buy___________ Buyer _____________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ ASSIGNEMENT OR SALE BY BUYER Buyer shal_______________ -7- Buyer _________________ and if to Buyer: Buyer _____________________________ Address: ___________________________ City _______________________________ State and Zip ____________and Zip _______________________ Seller _____________________________ Address: ___________________________ City _______________________________ State and Zip _______________________ Initials Seller __rson; (2) by certified mail; or (3) by overnight courier as follows: If to Seller: Seller _____________________________ Address: ___________________________ City _______________________________ State t, must be in writing, A notice may be delivered to a party at the address that follows a party's signature or to a new address that a party designates in writing. A notice may be delivered: (1) in pey obligations secured hereby shall remain fully effective as if no acceleration had ever occurred. NOTICES Any notice to be given or to be served upon any party hereto, in connection with this Contracinstatement amounts and expenses by: cash, valid money order, valid certified check, valid bank check, or valid cashier's check (d) In the event of any reinstatement, this Security Instrument and anement; and reimburses all expenses incurred by Seller in enforcing this Contract and protecting Seller's interest in the property, including, but not limited to, reasonable attorneys' fees. pay any reof _________________________, provided that Buyer: (a) (b) (c) pays Seller all sums due at that time under this Contract as if no acceleration had occurred; cures any default or other covenant or agreAFTER ACCELERATION If Buyer defaults under the terms of this Contract and payments are accelerated hereunder, Buyer shall have the right to reinstate this Contract as allowed by the laws of the State is Contract JOINT AND SEVERAL LIABILITY If there is more than one Buyer, then all Buyers covenant and agree to joint and several liability and obligations with respect to this Contract. REINSTATEMENT YANCE BY SELLER The Seller reserves the right to convey, Seller's interest in the Property. Such conveyance shall not be a cause for rescission of this Contract and shall be subject to the terms of thy necessary payments or take any necessary actions to cure the default and Buyer will be reimbursed be receiving credit to this Contract to apply to any payments that are due or will become due. CONVEbecome due. Seller further agrees to produce evidence of any such payments to Buyer upon Buyer's demand. If Seller defaults on any such mortgage or land contract, Buyer shall have the right to make annterest in the Property is at any time encumbered by a mortgage, Seller agrees to perform all obligations under the mortgage and to make all payments of principal and interest on the mortgage as they e total amount due on all outstanding mortgages is not, at any time, greater than the unpaid balance under this Contract. Initials Seller _________________ -6- Buyer _________________ If Seller's iler may place a mortgage on the Property, which shall become a lien on the Property, superior to the rights of the Buyer, or may continue and renew any existing mortgage on the Property, as long as th Buyer's obligations and responsibilities under this Contract under the laws of the State of _____________________________________________. MORTGAGE BY SELLER During the lifetime of this Contract, Selny time by giving Buyer reasonable notice. RECORDING While this Contract may be recorded, the Seller may record a Notice of Termination of said Contract if the Buyer defaults in the performance of thes Contract, Buyer agrees to return the property to Seller in substantially the same condition, as it now exists, ordinary wear and tear excepted. Seller reserves the right to inspect the property at ae Buyer and shall be secured by this Contract. RETURN OF PROPERTY In the event this Contract is terminated and Buyer is required to return the Property to Seller as may be required by the terms of thiroperty, the Seller may, at the Seller's option, make such repairs or cause the same to be made, and advance money in that behalf, which sums advanced or costs of repairs shall be the obligation of thit to be done anything to the Property that will in any way impair or weaken the security of the Seller's title. In case of the refusal, neglect or inability of the Buyer to repair and maintain said Py this agreement. MAINTENANCE OF PROPERTY The Buyer will not permit, commit or suffer waste and will maintain the Property at all times in a state of good repair and condition, and will not do or perm___________________________ All costs and expenses of collection, by foreclosure, or otherwise, including reasonable attorney's fees, shall be paid by the Buyer, and all such sums are hereby secured bpayable immediately, and Seller may take any appropriate action against Buyer for collection of the entire principal balance and any unpaid interest according to the laws of the State of _____________fault continues for an additional fifteen (15) days after service of the "Notice of Failure to Cure" that without further notice, the entire principal balance and any unpaid interest shall be due and by the acts or negligence of Buyer. (b) Give the Buyer a written notice specifying the failure to cure the default or performance ("Notice of Failure to Cure") and informing the Buyer that if the dels to vacate the Property, Seller shall have the right to obtain possession by appropriate court action. Seller shall also be entitled to recover such other damages as they may be due which are causedes as shall place the Seller in exclusive possession of the premises. Buyer expressly agrees that in the event of default which is not cured by Buyer and termination of this Contract, and if Buyer faieller shall have the right to reenter and to take immediate possession of the Property without being liable in any action in trespass, or otherwise, and to seek such self-help remedies or other remedi amount (paid to Seller) Initials Seller _________________ -5- Buyer _________________ shall be retained by the Seller in full satisfaction and liquidation of all damages sustained by the Seller. Sd and terminated and Seller may regain possession of the Property as provided herein. Buyer shall forfeit all payments made by him to date on this agreement (including taxes and assessments ) and said and informing the Buyer that if the default continues for an additional fifteen (15) days after service of the "Notice of Failure to Cure" that without further notice, this Contract shall be cancelleriod, then Seller shall have, at Seller's option, any of the following remedies: (a) Give Buyer a written notice specifying the failure to cure the default or performance ("Notice of Failure to Cure")ice shall state that Buyer is allowed fourteen (14) days from the date of the Notice to cure the default or performance. If the default or failure of performance is not cured within the 14 day time peder this Contract or fails to perform any covenant, term or condition required by this Contract on or before the due date, Seller shall give Buyer a notice of default or performance ("Notice). The Notuyer shall have the option to collect damages at law or to demand specific performance, costs and reasonable attorney's fees from the Seller. DEFAULT BY BUYER If Buyer fails to make any payment due unessential part of this contract. DEFAULT BY SELLER In case of the failure of the Seller to comply with the terms of this Contract or to perform any of the covenants hereby made and entered into, the Ber and all other terms and covenants are complied with. TIME OF THE ESSENCE Time is of the essence with respect to the terms and provisions of this Contract. The time of each payment shall also be an ecution of this Contract Buyer shall take possessions of the Property and shall enjoy peaceful possession of the Property for as long as all payments due under this agreement are made in a timely mannSuch prepayment shall not include unearned interest. Upon full prepayment, the Seller shall have twenty (20) days in which to deliver a warranty deed or equivalent deed. POSSESSION OF PROPERTY Upon exys to such agency, authority, or corporation in order to avoid condemnation proceedings. PREPAYMENT The Buyer may prepay the entire balance outstanding at any time without penalty and without notice. this Paragraph shall apply also to any settlement or agreement reached between the Buyer and any corporation, authority or agency having the power of eminent domain whereby the Buyer voluntarily convein this paragraph, but the Seller shall be authorized to sue for a money judgment for any deficiency between the amount of the award and the outstanding obligations of the Buyer. d. The provisions of mount of the award is insufficient to satisfy the outstanding obligations of the Buyer to the Seller, excluding unearned interest, the contract shall nevertheless be terminated as previously provided d and the Seller will convey to the Buyer any of the Initials Seller _________________ -4- Buyer _________________ property herein included which was not taken by eminent domain. In the event the aary to pay out the contract, such sum including accrued interest to date, but excluding unearned interest, and the balance of the award shall be paid to the Buyer. The contract will thus be consummateon. c. If the amount taken is more than seventy-five (75%) percent of the total value of the property at the time of the taking, then the award shall be paid to the Seller to the extent that is necessining the value of the uncondemned portion of the property, the value shall be the fair market value after the completion of such repairs or alterations as may have been necessitated by the condemnati or restoration of the uncondemned portion of the property shall be applied for such purpose before the remaining portion of the award is turned over to the Seller for reduction of the debt. In determhe award shall be paid to the Buyer, and the contract as thus accelerated as to the final payment shall continue unaffected by the taking. However, such sums as are necessary for the useful alterationstanding indebtedness of the Buyer under the contract to a point where the value of the property not taken is equal to twice the remaining outstanding indebtedness under the contract, the balance of tbut, (2) if the value of the property remaining is less than twice the amount of the Buyer's indebtedness under the contract, then so much of the award shall be paid to the Seller as to reduce the outperty remaining is equal to twice the amount of the Buyer's indebtedness under the contract, then the entire award shall be paid to the Buyer and the contract shall continue unaffected by the taking, the amount taken is more than fifty (50%) percent of the total value of the property but less than seventy-five (75%) percent of the total value at the time of the taking, (1) if the value of the pro less than fifty (50%) percent of the total value of the property at the time of the taking, the entire award shall be paid to the Buyer and the contract shall continue unaffected by the taking. b. If EMINENT DOMAIN In the event that any or all of the property is taken by eminent domain during the existence of this Contract, the rights and obligations shall be as follows: a. If the amount taken is costs of repair or reconstruction shall be delivered to the Buyer, and any deficiency remaining after application of such proceeds to the costs of repair or reconstruction shall be paid by the Buyer.f the Buyer's building plans, turn over the insurance proceeds to an insurance trustee for the purpose of paying for the repairs or reconstruction. Any surplus of insurance proceeds over and above thed if the value of the land after the repair or reconstruction will equal or exceed the value of the land immediately prior to the casualty. If requested by the Buyer, the Seller will, after approval o of such repair or reconstruction, the Buyer shall Initials Seller _________________ -3- Buyer _________________ submit the building plans to the Seller for approval, which approval shall be grante contract until the Buyer's obligations are satisfied and the contract consummated. (2) If the Buyer elects to repair or reconstruct, the insurance proceeds shall be applied by the Seller to the coststo an election not to repair or reconstruct after casualty, the proceeds shall be credited to the account of the Buyer and the Buyer will continue to make regular payments pursuant to the terms of therance proceeds, the Seller shall deliver a deed to the Buyer and consummate the transaction. In the event the contract is not paid out as a result of the application of the insurance process pursuant such sum, any surplus of the insurance proceeds over and above the Buyer's obligations shall be paid to the Buyer. In the event that the contract is paid out as a result of the application of the insuh accrued interest to date, but excluding unearned interest, shall at the option of the Seller become due and payable forthwith, and the insurance proceeds shall be applied towards the application of l have the option as to whether to repair or reconstruct following such casualty loss. (1) If the Buyer elects not to repair or reconstruct, then the unpaid balance of the purchase price, together wit after application of the insurance money to such costs. b. If the damage to the Property and/ or building(s) is in excess of fifty (50%) percent of the total value of the improvements, the Buyer shal the costs of such repair or reconstruction, the Buyer being entitled to any surplus insurance funds over and above the costs of repair or reconstruction, and the Buyer being liable for any deficiencythe improvements, the Buyer shall be obligated to repair or reconstruct, as the case may be, and the Seller shall either turn over the insurance proceeds to the Buyer or apply the proceeds directly tos by fire or other casualty, the rights and obligations of the parties shall be as follows: a. If the damage to the Property and/ or building(s) is less than fifty (50%) percent of the total value of indstorm, insurance, with an insurance company satisfactory to the Seller for a sum not less than its full insurable value. All insurance proceeds shall be payable to the Seller. In the event of a losK OF LOSS AND INSURANCE Risk of loss by negligence, fire or other casualty is on the Buyer. The Buyer agrees to keep the Property insured, by at least content, liability, fire, casualty, hazard, and wd thereafter. TAXES AND ASSESSMENTS The Buyer agrees to pay all taxes, assessments, or impositions that may be legally levied or imposed upon said land apportioned as of the date of this Contract. RISt of reentry or other reverter right which amounts to a qualification of the fee, and subject also to applicable zoning ordinances and real estate taxes for the year in which the deed is delivered, anances except those mortgages or liens, if any, mentioned herein, easements, restrictions, limitations, reservations, covenants and conditions of record not coupled with a possibility of reverter, righens or encumbrances other than taxes and assessments for the current year. Initials Seller _________________ -2- Buyer _________________ TITLE Title shall be conveyed free and clear of all encumbrpurchase price and other amounts, including any late charge, by Buyer, Seller will, at Seller's expense, deliver a Statutory or General Warranty Deed to the Property to Buyer, free and clear of any lid as to the condition of the Property, buildings, improvements or fixtures located thereon, and/or the location of the boundaries of the Property. DEED AND EVIDENCE OF TITLE Upon payment of the total N OF PROPERTY Buyer accepts the Property "as-is" without any type of warranty thereon. Buyer further understands that Seller has not made and does not make any representations or warranties of any kinmprovements now on the Property, or hereafter made or placed thereon, shall also be part of the security for the performance of this contract and shall not be removed from the Property. AS-IS CONDITIOrformance of Buyer and as security of the payment of the obligation of Buyer under this Contract. All improvements on the Property, including, but not limited to, buildings, fixtures, trees or other i that may be charged, shall be computed monthly and deducted from the payment and the balance of the payment shall be applied to the principal SECURITY This Contract shall stand as security for the pe_________________, 20 ___, and continuing on the ______ day of each and every month thereafter, until the ___ day of _____, 20___, when all remaining principal and interest shall be paid. Any interesth interest on the whole sum at the rate of _________ ( ____%) percent per annum, payable in monthly installments of _____________________ Dollars ($_____________) beginning on the ________ day of ____ch and every month thereafter until the ____ day of ______, 20__ when the final payment shall be due. [ _________ / __________ ] The principal sum of _____________________ Dollars ($_____________) wit$_____________) payable in monthly installments of _____________________ Dollars ($_____________) beginning on the ________ day of _____________________, 20 ___, and continuing on the ______ day of ea _____________________, 20 ___, and continuing on the ______ day of each and every month thereafter, until paid in full. [ _________ / __________ ] The principal sum of _____________________ Dollars () with interest on the whole sum at the rate of _________ ( ____%) percent per annum, payable in monthly installments of _____________________ Dollars ($_____________) beginning on the ________ day of_______) paid to the Seller upon execution of this agreement, the receipt of which is hereby acknowledged. [ _________ / __________ ] The principal sum of _____________________ Dollars ($_____________llows (select and initial one or more that apply): Initials Seller _________________ -1- Buyer _________________ [ _________ / __________ ] _________________________________________ Dollars ($__________ (Excluded Items) PRICE AND PAYMENT Buyer herein covenants and agrees to pay to the Seller the sum of _____________________ Dollars ($_____________) as the purchase price for the Property, as fo_________________________________________________________________ ____________________________________________________________________________ _________________________________________________________s are specifically excluded from this contract and shall not be transferred to Buyer as a part of the Property: ____________________________________________________________________________ __________________________________ ____________________________________________________________________________ ______________________________________________________________ (Included Items). The following itemmidifiers; attached outside cooking units; attached fireplace screens and/or glass doors; attic and ceiling fans; builtin kitchen appliances; and: _____________________________________________________um; wall-to-wall carpet; window and porch shades; blinds; storm windows and doors; screens; curtain and drapery rods; awnings; automated garage door openers and remote control units; keys; attached hual heating, ventilation and air conditioning equipment and fixtures; sump pumps; attached TV antennas and cables; lighting and light fixtures; plumbing equipment and fixtures; attached mirrors; linole (unless specifically excluded below), all of which (if any) are owned by Seller free and clear of all liens and encumbrances, including: gas heaters; propane tanks (including propane if owned); centrnd interest of Seller in and to adjacent streets, roads, alleys and rights-of-way. The sale of the Property shall also include the following fixtures and personal property associated with the Propertydescribed on Exhibit "A", attached hereto and made a part hereof. The sale of the Property (and the term "Property") shall include all buildings and improvements on the property and all right, title aes by a good and sufficient warranty deed or equivalent deed, that Property ("Property") situated in the County of _____________________, State of ________________________________________, more fully nd performed, the Seller hereby covenants and agrees to convey to the Buyer, his heirs, executors, administrators, personal representatives, or assigns, in fee simple absolute, clear of all encumbranceinafter referred to as "Buyer"), collectively referred to Parties. WITNESSETH, that if the Buyer shall first make the payments and perform the covenants hereinafter mentioned on his part to be made a entered into this_____ day of ___________, 20 ___, by and between ______________________________________, (hereinafter referred to as "Seller"), and ____________________________________________, (herot be used without consulting with an attorney first. You should also consult an attorney whenever a document is negotiated with another party. 2 CONTRACT FOR DEED THIS CONTRACT FOR DEED is made andontract are fully explained and understood. An attorney should also be consulted whenever a document is negotiated with another party. These forms should only be a starting point for you and should n consulting an attorney first to make sure it fits your particular situation. You should also consult with an attorney and a tax professional to make sure that all legal and tax consequences of this Cintended as and are not a substitute for legal advice. Laws vary from time to time and from state to state. These forms should only be a starting point for you and should not be used or signed without the terms of the Contract are fully understood. An attorney and a tax professional should be consulted to make sure all legal and tax consequences are clear. This information and these forms are not e at: http://www.epa.gov. Please note that the state where the property is located may 1 also have its own laws and regulations regarding lead paint. The Buyer and the Seller must make sure that allamphlet on lead poisoning prevention. More information about lead poisoning and protecting your family can be found at http://www.epa.gov/lead/. Additional information can also be found on the EPA sitnt women. Before selling pre-1978 housing, Sellers must disclose the presence of known lead-based paint and/or lead-based paint hazards in the dwelling. Buyers must also receive a federally approved pbuilt before 1978 may contain lead-based paint. Lead from paint, paint chips, and dust can pose health hazards if not managed properly. Lead exposure is especially harmful to young children and pregnastate broker or attorney, or call your state's attorney general's office. Most states with mandatory disclosure laws have created state approved forms that can be used to make the disclosure. Housing ot required by law, a Buyer may still request the disclosures and try to make them part of the contract.. To find out if your state has any mandatory disclosure laws, you can check with a local real e to determine what additional disclosures, if any, are required in your state. In some of these states, a seller may still be required to make the disclosure, even if the property is sold "as is" If n states requires a seller to make additional written disclosures, including disclosures about the condition of the house and any known problems. Check with a real estate agent or attorney in your areais Contract for Deed contains an AS-IS clause regarding the property. You can also choose between different payment methods i.e. with interest, with no interest, balloon payment etc... The law in sometion are usually lower than transactions involving mortgages, banks or other institutional type lenders. A Contract for Deed also allows Seller to gain interest income from the outstanding balance. Th in situations where the Buyer can't easily obtain financing from other sources or other financing may not be even available to Buyer. Generally, the closing costs associated with this type of transacrice and is entitled to possession and equitable title to the property. The Seller holds legal title and continues to be liable for payment of any underlying mortgage. This type of Agreement is usefuly. When the Buyer completes the required payments, the Seller must deliver valid legal title by way of a deed. During the period of the contract, the Buyer makes installment payments on the purchase pransfer the title to the Buyer once all the payments under the Agreement are made and all other obligations are met. In essence, the Seller finances the purchase and holds the title or deed as securitmetimes also know as a Land Contract, Agreement for Deed, Contract Sale or Real Estate Installment Agreement. This type of Document allows the Seller to retain the title to the property and agree to t negotiated with another party. The purchase and use of these forms is subject to the Disclaimers and Terms of Use found at findlegalforms.com. Information Contract for Deed A Contract for Deed is soith an attorney and a tax professional to make sure that all legal and tax consequences of this Contract are fully explained and understood. An attorney should also be consulted whenever a document isshould only be a starting point for you and should not be used or signed without consulting an attorney first to make sure it fits your particular situation. The Buyer and Seller should also consult west the disclosures and try to make them part of the contract. These forms are not intended and are not a substitute for legal advice. Laws vary from time to time and from state to state. These forms luded.. Check with a real estate agent or attorney in your area to determine what additional disclosures, if any, are required in your state or locality. If not required by law, a Buyer may still requondition of the house, the neighborhood, environmental disclosures and any other known problems. Some cities and other municipalities may also have specific disclosure requirements that need to be incs contain the basic terms and language that should be included in similar agreements. The law in some states requires a seller to make additional written disclosures, including disclosures about the cminimum of three years as proof of compliance with the rules. A copy of the "Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards" form is included in this package. These formLead-Based Paint and/or Lead-Based Paint Hazards". Federal law requires the Seller to keep the signed copy of the "Disclosure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards" for a atures of all parties. If the property is built before 1978 property (i.e. pre-1978 property), federal law requires that the Seller and Buyer (and their Agents) sign the "Disclosure Of Information On sure Of Information On Lead-Based Paint and/or Lead-Based Paint Hazards. Each party should sign two copies of the final draft of the Contract. Each party should receive one copy with the original signInstructions and Checklist Contract for Deed This package contains: (1) Instructions and Checklist for Contract for Deed; (2) Information about Contract for Deed; (3) Contract for Deed; and (4) Disclo District of Columbia