The Contract to Sell Lot is essential for real estate transactions involving undeveloped land in the United States. This document is used when a property owner wishes to sell a parcel of land to a buyer, whether for development, investment, or personal use. It includes critical elements such as property description, purchase price, payment terms, closing conditions, and any development restrictions. The contract must comply with state-specific real estate laws and often requires consideration of local zoning regulations, environmental requirements, and title conditions.
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1. Parties: Identification of seller and buyer with complete legal names and addresses
2. Background: Context of the sale and property description
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed legal description of the lot including boundaries and dimensions
5. Purchase Price: Amount and payment terms
6. Closing Date: Specified date for completion of the transaction
7. Title Provisions: Requirements for clear title and title insurance
1. Financing Contingency: Terms and conditions if purchase depends on buyer obtaining financing
2. Inspection Contingency: Terms and conditions for property inspection period and buyer's rights
3. Development Restrictions: Specific limitations and requirements regarding property development
1. Property Survey: Official survey showing lot boundaries and dimensions
2. Title Report: Current title report showing ownership and encumbrances
3. Environmental Reports: Any required environmental assessments or reports
4. Zoning Certificate: Current zoning classification and permitted uses
Relevant legal definitions
Agreement
Closing
Closing Date
Deed
Deposit
Due Diligence Period
Earnest Money
Effective Date
Encumbrances
Environmental Laws
Hazardous Materials
Land
Legal Description
Lot
Permitted Exceptions
Property
Purchase Price
Real Property
Seller's Knowledge
Survey
Title Company
Title Insurance
Title Policy
Transfer Documents
Zoning Laws
Business Day
Force Majeure
Governmental Authority
Inspection Period
Liens
Closing
Closing Date
Deed
Deposit
Due Diligence Period
Earnest Money
Effective Date
Encumbrances
Environmental Laws
Hazardous Materials
Land
Legal Description
Lot
Permitted Exceptions
Property
Purchase Price
Real Property
Seller's Knowledge
Survey
Title Company
Title Insurance
Title Policy
Transfer Documents
Zoning Laws
Business Day
Force Majeure
Governmental Authority
Inspection Period
Liens
Clauses
Property Description
Purchase Price
Payment Terms
Title and Conveyance
Due Diligence
Representations and Warranties
Closing Conditions
Environmental Compliance
Zoning Compliance
Property Access
Default and Remedies
Risk of Loss
Assignment
Notices
Governing Law
Dispute Resolution
Force Majeure
Indemnification
Property Condition
Survey Rights
Title Insurance
Easements
Development Restrictions
Utilities
Property Taxes
Broker Commissions
Recording
Severability
Time of Essence
Entire Agreement
Purchase Price
Payment Terms
Title and Conveyance
Due Diligence
Representations and Warranties
Closing Conditions
Environmental Compliance
Zoning Compliance
Property Access
Default and Remedies
Risk of Loss
Assignment
Notices
Governing Law
Dispute Resolution
Force Majeure
Indemnification
Property Condition
Survey Rights
Title Insurance
Easements
Development Restrictions
Utilities
Property Taxes
Broker Commissions
Recording
Severability
Time of Essence
Entire Agreement
Relevant Industries
Relevant Teams
Relevant Roles
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