Terms and Conditions
The Land Contract is made effective as of today, by and between The Land Nerd, LLC (Seller) and you (Buyer).
The parties agree as follows:
- Agreement of Purchase and Sale. Subject to the terms, covenants and conditions of this Agreement, Seller shall sell to Buyer and Buyer shall purchase from Seller the “Property” defined in the check-out cart.
- Purchase Price & Terms.
- Terms Purchase. Buyer shall pay the price, interest rate, property taxes, and fees for the stated term as defined on the product page for the property(ies).Payments shall commence on the same day of the month following one month after the down payment and processing fee is received (unless agreed to in writing otherwise), and continuing on the same day each month thereafter for the stated term, at which time the then remaining principal and interest, including accrued but unpaid interest, is due and payable in full. (Amount due may constitute a Balloon Payment, such that the final payment may be far greater than the monthly payments.)
- Cash Purchase. Buyer shall pay the price and fees for the stated term as defined on the product page for the property(ies).
- Property Taxes and HOA dues (if any).
- Terms Purchase. Property taxes and HOA dues (if any) for the current year shall be amortized over a 12-month period, and shall be paid by Buyer to the Seller, who shall be responsible for payment of such taxes to the County Treasurer promptly when they become due. The monthly property taxes shall be added to the monthly installment as specified in the Purchase Price & Terms section of this agreement.
- Cash Purchase. Property taxes and HOA dues (if any) for the current year shall be pro-rated based on the sale date.
- Total Payment for Terms Purchases. The total monthly payment due from Buyer to Seller on the same day of each month following one month of the purchase date is defined in the check-out cart and consists of:
Principal and interest (if any)
Property Taxes *See Note Below
* Note – Property taxes are subject to change. If property taxes change in subsequent years, the total monthly payment shall be adjusted accordingly.
- Possession and Use. Buyer is entitled to full and exclusive possession and use of the Property immediately upon the execution of this Agreement. Seller retains legal title to the Property until all obligations of Buyer hereunder have been timely performed.
- Delivery of Deed. Upon Buyer’s full performance of this Agreement, including full payment of the Purchase Price and all fees described above, Seller shall execute and deliver to Buyer a Warranty Deed, which will be recorded with the applicable county, conveying legal title to the Property to Buyer.
- Incorporation of Separate Terms and Conditions. This Agreement is subject to the Terms and Conditions attached hereto and incorporated herein.
- Acceptance. The offer set forth in this Agreement automatically expires unless Buyer accepts such Agreement by proceeding with the purchase of the property and processing of the down payment.