Free WB1 form purchase agreement
WB1
Wisconsin Purchase agreements
A land contract (sometimes known as a “contract for deed” or an “installment sale agreement”)
is a contract between a seller and buyer of real property in which the seller provides financing to buy the property for an agreed-upon purchase price and the buyer repays the loan in installments.
Under a land contract, the seller retains the legal title to the property, while permitting the buyer to take possession of it for most purposes other than legal ownership.
The sale price is typically paid in periodic installments, often with a balloon payment at the end to make the time length of payments shorter than a corresponding fully amortized loan without a final balloon payment.
When the full purchase price has been paid including any interest, the seller is obligated to convey legal title to the property to the buyer.
[1] An initial down payment from the buyer to the seller is usually also required by a land contract.
[2] The legal status of land contracts varies from region to region.[citation needed]
Since a land contract specifies the sale of a specific item of real estate between a seller and buyer, a land contract can be considered a special type of real estate contract.
In the usual, more conventional real estate contracts, a seller does not provide a loan to the buyer; the contract either does not specify a loan or includes provisions for a loan from a different “third party” lender, usually a financial institution in practice.
When third party lenders are involved, typically a lien called a mortgage is placed on the property so that the value of the property is used as collateral until the loan is paid in full.
In Wisconsin they call contract for deeds-owner financing-cd a land contract- they use a Wisconsin land contract form to draft the contract.
In Minnesota we call owner financing-seller financing a contract for deed or cd for short.
WB-11 Residential Offer to Purchase
Free Wisconsin Purchase agreement- Please have a Realtor -Broker-lawyer fill this form out for you.
This form is free for public use but we are not responsible for any changes or out date forms or anyting to do with the form.
If you want to sell your house we can get it sold for you.
WB-1 Residential Listing Contract Exclusive Right to Sell Approved by the Wisconsin Department of Regulation and
Licensing Page 1 of 5
Wisconsin land contracts
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Steve Vennemann (651-334-8312) BROKER
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