Picture of South Dakota Contract for Deed Picture of South Dakota Contract for Deed

South Dakota Contract for Deed

If you are selling property in South Dakota to a buyer who can't qualify for a mortgage, you can carry all or part of the purchase price with this Contract for Deed.

  • A contract for deed (or purchase money mortgage) allows a buyer to pay over time, with the seller carrying the balance until the last payment is made. 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.
  • Available in MS Word format.
  • Intended to be used only in the State of South Dakota.

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Document Type: Microsoft Word
Last Updated: 13-March-2025
SKU: 5003
$17.99
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