Michigan Quitclaim Deed for Joint Ownership

• Under the terms of this Contract, the seller effectively becomes the mortgage lender for the balance of the purchase money.
• Title will transfer to the buyer once payment in full of all principal and interest has been received by the seller.
• The seller has the right to take back the property if the buyer defaults in payment.
• At the seller's option, the balance can be repaid by monthly payments with or without interest until paid, or monthly payments with interest for a fixed number of payments with a balloon payment at the end to pay out the balance.

Put in an offer to purchase real estate property in the State of Michigan with this Land Purchase Agreement.

• This purchase and sale agreement can be used for:
  • cash transactions,
  • new mortgages,
  • assumption of mortgage by purchaser, or
  • transactions involving seller financing (by land contract or purchase money mortgage).
• The offer also includes a lead-based paint disclosure as an addendum to the agreement. Fully editable and easy to use.
• Available in MS Word format.
• Intended for use only in the State of Michigan.

When you sell a property in Michigan, you must provide the buyer with a completed Seller's Disclosure Statement.

• This is required under the Michigan Seller Disclosure Act.
• As the seller, you must disclose the current condition of the property, including the appliances, built-in systems, basement, roof, HVAC, plumbing, electrical, and insulation.
• You must also disclose whether there are any environmental, flood, or pest problems.
• This form is required in all real estate sales, whether done through a real estate agent or by 'For Sale by Owner'.
• Available in MS Word format.
• Intended to be used only in the State of Michigan.