Oklahoma Contract for Deed
When credit is tight, it can be tough to qualify for a home loan. If you're trying to sell your home in that market, you'll find the pool of available buyers much smaller. That's when you need this Oklahoma Contract for Deed.
- A contract for deed allows a buyer to pay over time, with the seller carrying the balance until the last payment is made.
- The buyer can take possession and live in the home but doesn't own it. Once the price is paid in full, including any agreed interest, the seller conveys title to the buyer.
- You can only use the land contract for selling a property that has a home on it. You can't use this contract to sell bare land.
- If the buyer defaults under the contract, the seller has the right to repossess the property and keep all payments made as liquidated damages.
- The template includes a Lead Paint Disclosure, as required by federal laws.
- Intended for use only in the State of Oklahoma.
Last Updated: 23-October-2021