Selling Land while under contract

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posted 4 years ago

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I have nine months left on a three year land contract with no clause for penalties if I pay off early. It's with a private seller. I want to sell before I'm finished paying off, is this a complicated process or pretty straightforward?

Artie Scott

gardener

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Location: Piedmont 7a

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posted 4 years ago

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Hi Brad,

I would involve a local lawyer to look over the contract and advise on how to proceed.

Probably will need to set up an escrow account to ensure the proceeds pay off the loan before title transfers.

“All good things are wild, and free.” Henry David Thoreau

Anne Miller

steward

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Location: USDA Zone 8a

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I agree with Artie regarding contacting a local lawyer or a Title/closing company would be able to assist you.

Your contract would be paid off at the closing from the proceeds from the sales price. You would receive the difference minus closing costs.

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Brad Horner

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posted 4 years ago

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Thanks for the replies.

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