Welcome to our page featuring a customizable Contract for Deed Template
tailored for Maryland
real estate transactions.
This agreement allows the purchase of property via seller financing, offering both buyer protection and a clear legal document to ensure a smooth transaction.
Whether you’re selling or buying, this installment contract
provides certainty for all parties involved. Don’t hesitate to download and edit this contract to suit your needs.
CONTRACT FOR DEED
THIS AGREEMENT, made this __ day of _______, 20__, by and between ______________
hereinafter “Seller,” whether one or more, and ______________
, hereinafter “Buyer,” whether one or more.
Seller sells and Buyer buys the premises described as: [Complete Legal Description]
also known as [Address]
located in the state of Maryland.
2. PURCHASE PRICE:
The Purchase Price is ______US Dollars ($______)
, payable as follows: Down payment of ________US Dollars ($_______)
upon execution of this contract, and the balance of ________US Dollars ($_______)
payable in monthly installments as outlined in Section 3.
3. TERMS OF PAYMENT:
The balance of the Purchase Price shall be paid in monthly installments of ________US Dollars ($_______)
, inclusive of an interest rate of _____%
per annum. The first payment is due on ______
, and similar payments due on the same date of each succeeding month thereafter until the balance of the Purchase Price is fully paid.
Possession of the premises shall be given to Buyer on ______
, unless otherwise agreed in writing by both parties.
5. TAXES AND ASSESSMENTS:
All taxes and assessments levied against the property which are due and payable shall be prorated as of the date of closing.
6. MAINTENANCE AND INSURANCE:
Buyer accepts the property in its present condition, and agrees to maintain the premises and keep the building insured against loss.
If Buyer fails to comply with this contract, Seller may, after giving proper notice to Buyer, declare this contract void and all right, title and interest of Buyer in the property shall terminate.
8. DEED AND DELIVERY:
Upon payment of all sums due under this contract, Seller agrees to grant and convey to Buyer by warranty deed, the premises as described in this contract, free and clear of all encumbrances, except as otherwise provided in this contract.
9. GOVERNING LAW:
This Agreement shall be governed by and construed in accordance with the laws of the state of Maryland.
Each party executing this Contract for Deed acknowledges that he or she has read it, understands it and agrees to be bound by its terms and conditions.
SELLER’S NAME (Print) BUYER’S NAME (Print)
SELLER’S SIGNATURE BUYER’S SIGNATURE