What You're Actually Signing — In Plain English

1. What You're Buying

You're buying a tract of rural land. You receive full possession the day you sign — but the legal title (the deed) only transfers to you after the land is fully paid off. The contract names the exact tract number, the acreage, and the location.

2. Financing Terms

If you choose owner financing:

• You pay the down payment listed on the lot; in some situations, we may agree to split it across a short written schedule
• The remaining balance is financed at a fixed interest rate over a set number of years (typically 15, and we're flexible)
• Monthly payments run through Lendiom
• You can pay off early any time, no penalty

3. Late Payments

If a payment is more than 5 days late:

• A late fee is charged (4% or $10, up to $50)
• If a payment is missed and not corrected within 10 days after written notice, that's a default under the contract

4. Possession vs. Ownership

When the Contract for Deed is signed:

• You immediately have possession and full use, subject to the property restrictions
• You don't get the deed yet
• You receive the deed only after the contract is paid in full
• You're responsible for the property from day one — including risk of loss

5. Taxes

You must pay:

• All property taxes starting the first full tax year after signing
• Any county or state fees
• Any special assessments

If we end up paying taxes on your behalf for any reason, you owe us back within 15 days.

6. Your Responsibilities While Paying

While you're still making payments, you agree to:

• Keep the property clean and safe
• Prevent trash piles or nuisances
• Follow county laws
• Not allow junk vehicles, dumping, or salvage operations
• Keep livestock to reasonable numbers (no pigs)
• Build driveways with proper culverts
• Install septic in compliance with county rules
• Not live in any structure until septic is installed and approved
• Get all required permits and utilities (we don't install utilities or septic for you)

You may clear trees only for a home, driveway, and yard unless we approve more clearing.

7. Exhibit B — Property Use Restrictions

The property has standard rural-use restrictions designed to protect land value and your neighbors:

• One home AND one mobile home per lot
• Mobile homes must be underpinned within 90 days
• Mobile homes 10 years old or newer are automatically approved with documentation
• Older mobile homes need our written approval
• RV living is allowed temporarily only with written permission
• No pig farming
• No industrial uses
• No 18-wheelers parked on the property
• No brush burning

These restrictions apply while you're making payments — they protect the property while it's still legally ours. They do notconvey with the deed: once you've fully paid off the land and receive your Warranty Deed, the land is yours free of them. Violating them during the payment period is a default under the contract.

8. Defaults and Remedies

You're in default if you:

• Miss payments and don't fix them after notice
• Fail to pay taxes
• Violate the property restrictions
• Break any other contract obligation
• Abandon the land
• File bankruptcy
• Provide false information

If you default, we can choose between:

1. Requiring the full remaining balance immediately, or
2. Terminating the contract and taking back possession

If the contract is terminated:

• You must leave within 7 days
• All money paid is forfeited as liquidated damages and rent

This is standard for Contract for Deed arrangements across the country.

9. No Waiver

If we give you extra time or are lenient once, that doesn't change the rules. We can still enforce the contract strictly later if needed.

10. Notices

Notices from us may be:

• Hand-delivered
• Sent by certified mail
• Emailed

You must keep your address, phone number, and email updated at all times.

11. Legal Matters

The contract is governed by the law of the state in which the property resides. Any legal dispute must be handled in the county where the property is located. If we ever have to enforce the contract, you agree to pay reasonable attorneys' fees.

12. Final Note

This summary is just our plain-English explanation, kept as up to date as we can make it. The Contract for Deed itself controls all legal rights and obligations — if anything on this website ever differs from your contract, the contract takes priority. You'll receive the full contract to review before you sign anything binding.

Have a question about any of this? Just ask us. →