• Post Reply Bookmark Topic Watch Topic
  • New Topic
permaculture forums growies critters building homesteading energy monies kitchen purity ungarbage community wilderness fiber arts art permaculture artisans regional education skip experiences global resources cider press projects digital market permies.com pie forums private forums all forums
this forum made possible by our volunteer staff, including ...
master stewards:
  • Nicole Alderman
  • Anne Miller
  • Mike Haasl
  • Pearl Sutton
  • paul wheaton
stewards:
  • r ranson
  • Burra Maluca
  • Joseph Lofthouse
master gardeners:
  • jordan barton
  • Leigh Tate
  • Carla Burke
gardeners:
  • Greg Martin
  • Jay Angler
  • John F Dean

Selling Land while under contract

 
Posts: 38
2
  • Mark post as helpful
  • send pies
    Number of slices to send:
    Optional 'thank-you' note:
  • Quote
  • Report post to moderator
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?
 
gardener
Posts: 869
Location: Piedmont 7a
302
2
hugelkultur trees woodworking
  • Likes 2
  • Mark post as helpful
  • send pies
    Number of slices to send:
    Optional 'thank-you' note:
  • Quote
  • Report post to moderator
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.

 
master steward
Posts: 4930
Location: USDA Zone 8a
1518
dog hunting food preservation cooking bee greening the desert
  • Mark post as helpful
  • send pies
    Number of slices to send:
    Optional 'thank-you' note:
  • Quote
  • Report post to moderator
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
Posts: 38
2
  • Mark post as helpful
  • send pies
    Number of slices to send:
    Optional 'thank-you' note:
  • Quote
  • Report post to moderator
Thanks for the replies.
gift
 
Rocket Mass Heater Manual
will be released to subscribers in: soon!
reply
    Bookmark Topic Watch Topic
  • New Topic