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Selling Land while under contract

 
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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?
 
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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.

 
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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.
 
Brad Horner
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Thanks for the replies.
 
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