Welcome to our page featuring a comprehensive Contract For Deed Template
specifically designed for West Virginia
. This template can serve as your go-to guide for a range of real estate property transactions, including land contracts and installment sale agreements.
Whether you are exploring seller financing or owner financing, you will find this purchase agreement indispensable. Our template is a fully editable legal document that provides clear and concise terms for both parties involved in the transaction.
Feel free to download, customize and use it to suit your specific needs while conducting any property transaction in West Virginia.
CONTRACT FOR DEED
THIS CONTRACT FOR DEED (the “Contract”) made this [Day]
, by and between [Seller]
, of [Seller’s Address]
, West Virginia, hereinafter referred to as the “Seller”, and [Buyer]
, of [Buyer’s Address]
, West Virginia, hereinafter referred to as the “Buyer”.
1. PURCHASE AGREEMENT
The Seller agrees to sell, and the Buyer agrees to purchase the property located at [Property Address]
, West Virginia (the “Property”).
2. PURCHASE PRICE
The total purchase price for the Property is [Purchase Price]
Dollars ($[Numerical Amount]
), payable as follows: [Payment Terms]
3. TITLE AND POSSESSION
The Seller shall deliver the title and possession of the Property to the Buyer upon full payment of the Purchase Price and fulfillment of all terms and conditions of this Contract.
4. REAL ESTATE TAXES AND ASSESSMENTS
All real estate taxes and assessments levied on the Property for the current year and subsequent years shall be the responsibility of the Buyer.
The Buyer shall keep the Property insured against loss or damage by fire and other hazards covered by a standard extended coverage endorsement for the benefit of both the Seller and Buyer.
In the event the Buyer fails to comply with any of the terms of this Contract, the Seller may, at its option, declare the entire balance unpaid hereunder immediately due and payable.
7. GOVERNING LAW
This Contract shall be governed by and construed in accordance with the laws of the State of West Virginia.
8. ENTIRE AGREEMENT
This Contract constitutes the entire agreement between the parties and supersedes any previous agreements, understandings or representations of any kind.
IN WITNESS WHEREOF,
the parties have executed this Contract on the day and year first above written.
[Seller’s Name] [Buyer’s Name]
This contract is a legal document. Consult with a legal professional before signing. This contract is specific to the state of West Virginia and takes into account its specific laws and regulations.