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Fillable FAR Vacant Land Contract

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Get your FAR Vacant Land Contract in 3 easy steps

  • 01 Fill and edit template
  • 02 Sign it online
  • 03 Export or print immediately

What is the Far Vacant Land Contract?

A far bar vacant land contract is a type of real estate contract in which the buyer agrees to purchase a piece of land that is not yet developed. The buyer usually pays a deposit upfront and then makes periodic payments until the total purchase price is paid. The buyer is then responsible for developing the land.

Far vacant land contracts are often used in situations where the buyer does not have the full amount of money needed to purchase the land outright. This type of contract can also be used to avoid paying property taxes on the land until it is developed.

Far Bar Vacant Land Contract Requirements

The standard FAR/BAR contract for the purchase of vacant land contains several key provisions that are important for both buyers and sellers to understand. Here are some of the key requirements for this type of land contract pdf:

  • The contract must be in writing and signed by both parties
  • The contract must state the purchase price and terms of payment
  • The contract must state the buyer's and seller's names and address
  • The contract must state the date of the contract and the date of closing
  • The contract must state that the buyer is acquiring the property for their own use and not for investment or resale purposes
  • The contract must state that the property is being sold as-is and that the buyer is aware of any and all defects in the property

How to Fill Out the Far Bar Vacant Land Contract?

The purchase of undeveloped land is a significant investment, and the contract requirements should reflect that. The following are key components that should be included in any land contract template.

  1. Location - The contract should identify the specific location of the land. This includes the street address, city, and state. The contract should also include a legal description of the property.
  2. Purchase Price - The contract should clearly state the purchase price of the land.
  3. Financing - If the buyer is obtaining financing for the purchase, the contract should specify the loan amount, interest rate, and term.
  4. Closing Date - The contract should specify when the transaction will close. This is typically 30-60 days from the date the contract is signed.
  5. Title Insurance - The contract should require the seller to provide title insurance. This protects the buyer in the event that there are any problems with the title to the property.
  6. Warranty Deed - The contract should require the seller to provide a warranty deed. This deed should be free and clear of any liens or encumbrances.
  7. Taxes - The contract should specify who is responsible for paying any taxes that are due on the property. This is typically the seller.
  8. Zoning - The contract should specify that the property is zoned for the buyer's intended use. The buyer should consult with an attorney or planner to ensure that the zoning is appropriate.
  9. Utilities - The contract should specify who is responsible for paying for any utilities that are to be connected to the property. This is typically the buyer.
  10. Environmental Issues - The contract should specify that the property is free of any environmental issues. The buyer should have the property inspected by a qualified environmental consultant to verify this.

Purchasing vacant land can be a great investment. However, it is important to protect your investment by including the key components outlined above in any contract for the purchase of vacant land.

How to Write a Far Bar Vacant Land Contract?

The contract should identify the buyer, seller, and agents. The contract should also contain a description of the property. The land contract sales agreement should also contain a description of the terms of the sale. This should include the date of closing, any financing contingencies, and any other special conditions that apply to the sale. Once the contract is complete, all parties should sign and date the document.

Who Should Sign the Far Bar Vacant Land Contract?

The far bar vacant land contract form must be signed by both the buyer and the seller. Once the contract is signed, the buyer will typically make a down payment on the property.

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Fillable online FAR Vacant Land Contract
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