A Pennsylvania land contract legally binds the terms and conditions of a real estate transaction between a seller of vacant land and the purchaser. The contract serves as a sale agreement containing the agreed-upon price, the legal description of the land/lot, as well as any added financial contingencies. Once both parties reach an accord, they must execute the document and schedule a closing date. The buyer may opt to conduct surveys of the land during the allocated diligence period before closing.
Where to Record? (21 P.S. § 325.1) – All deeds may be filed with the County Recorder’s Office located within the jurisdiction of the property, along with a Realty Transfer Tax Statement of Value.
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Other Versions (1)
Pennsylvania Assoc. of REALTORS Version (Vacant Land)
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Related Forms
Pennsylvania Residential Property Purchase Agreement
Download: Adobe PDF, MS Word, OpenDocument
Pennsylvania Commercial Property Purchase Agreement
Download: Adobe PDF, MS Word, OpenDocument