Agreement for Deed – Buying

Posted on February 28, 2011 by global

Revised 04/28/2014

Agreement for Deed – Buying

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39 Responses to Agreement for Deed – Buying

  1. Thomas Erb says:
    May 26, 2011 at 2:23 am

    Priceless

    Reply
  2. Ivanka M says:
    February 20, 2012 at 9:43 pm

    Very valuable resource

    Reply
  3. James Gipson says:
    June 28, 2012 at 9:22 pm

    Do I need this form, the Agreement for Deed if I use the Standard Purchase & Sales Agreement to buy “Subject To”? Your prompt response is greatly appreciated.

    Thanks,

    James

    Reply
  4. Earl Stacey says:
    October 12, 2012 at 8:30 pm

    Yip

    Reply
  5. Mike Minnihan says:
    October 30, 2012 at 12:42 am

    With the Agreement for Deed, you own the house, but you don’t get the deed.

    You get the deed in the future, when you do what you have agreed to do with the seller.

    In other states this is known as a Land Contract, Installment Land Contract, Bond For Deed, etc.

    Reply
  6. Mike Minnihan says:
    October 30, 2012 at 12:46 am

    @ James

    Use the Standard Purchase & Sales Agreement to buy “subject to”.

    The Agreement for Deed is NOT used to buy “subject to”.

    With the “subject to” you get the deed.

    @ Earl

    Sorry, but that’s the wrong answer Earl

    Reply
    • Corey Wolff says:
      January 25, 2013 at 1:57 am

      Thanks for the clarification Mike.

      Reply
    • Corey Wolff says:
      February 25, 2013 at 2:12 pm

      I know it is possible to assign an agreement for deed if I am the buyer. But does a buyer on an agreement for deed have the right sell on an agreement for deed to a new buyer even if the payments are not done being made? In other words, does my right to buy it myself once all payments have been made give me the right to actually sell it too?

      Reply
      • Daniel Nichelson says:
        November 23, 2017 at 12:38 pm

        The buyer of a contract for deed property has the right to re-sell it unless prohibited by the terms of the agreement. It would be wise for the seller to retain the right to approve any third party buyer in writing with a due on sale clause. This is to insure that the buyer is financially qualified to pay off the note according to the agreement.

        The note can be bought and sold freely like any other note.

        Corey – you asked about selling after all payments had been made. At that time the Seller must give the Buyer a Warranty Deed. The Buyer owns the property free and clear, and do as he wishes with it.

        Reply
  7. Kasi Phillips says:
    June 9, 2013 at 8:45 am

    Is agreement for deed another name for land trust?

    Reply
  8. Justin Anderson says:
    July 2, 2013 at 3:01 pm

    Please explain how this could be used as a “subject to” also?

    Reply
  9. Barry Winkle says:
    August 18, 2013 at 3:57 am

    I like the newer form. It’s much simpler than the one that I used back in 1996. I’ve done a lot of these and they really work guys.

    Reply
  10. BOB BRENNER says:
    September 25, 2013 at 1:41 pm

    1. Like the Lease/Purchase agreement, do I get the seller to sign this with the terms and then assign this to the Buyer?
    2. Is there somewhere in the agreement I can take the first payment?

    Reply
  11. Gary Alford says:
    November 21, 2013 at 5:53 pm

    I’m a little foggy on what to use this for, can someone help me out here? How does this differ from the regular purchase/sell agreement?

    Reply
  12. Pedro Prada says:
    October 25, 2014 at 8:54 am

    If I buy on Agreement for deed, do I have the right to sell on Agreement for deed even though I do not have title?

    How easy is it to Foreclose on Agreement for Deed?

    Please advise,

    Reply
  13. Paul Brennan says:
    November 16, 2014 at 10:51 pm

    grweat,thanks

    Reply
  14. Dana Klaft says:
    June 30, 2015 at 12:15 pm

    Downloading fails with the message that Word can’t open the document.

    Reply
  15. Judy Berrett says:
    July 11, 2015 at 3:13 pm

    I hope to learn more.

    Reply
  16. Dennis Cain says:
    September 10, 2015 at 10:03 am

    great form, looking forward to the Chicago RE training, to put all this together

    Reply
  17. Kobenan Abissa says:
    September 19, 2015 at 12:26 am

    I can’t wait…

    Reply
  18. Arthur E Fernandez says:
    December 28, 2015 at 6:01 am

    DENNIS: pls call me @: 773-306-8854.
    I am also in Chicago as Investor.
    My email: xyronet@comcast.net
    The tools, particularly the contracts &
    other documents available within our
    Gold Membership are excellent! We justneed to
    apply them wisely..
    ART FERNANDEZ

    Reply
  19. Jesse Toms says:
    October 8, 2016 at 4:09 pm

    Do I need this form too buy subject-to deals?

    Reply
  20. Jesse Toms says:
    October 8, 2016 at 4:12 pm

    Nevermind I dumb

    Reply
  21. Joe Roach says:
    April 24, 2017 at 9:48 am

    Using this today in a table top closing. Great Resource, thank you!

    Reply
  22. Travis Angus says:
    September 17, 2017 at 2:54 pm

    CANNOT PRINT

    Reply
  23. Gary Luster says:
    November 8, 2017 at 9:25 pm

    I am preparing a standard purchase and aggreement for my seller, Is this the correct form I should use to have the right to do a lease option and own the house to sale at the end of the contract and transfer deed to me.

    Reply
  24. Daniel Nichelson says:
    December 27, 2017 at 11:17 am

    Warning! On January 1, 2018 a new law goes into effect in Illinois that makes everything in Ron’s Contract for Deed form unusable in their existing form. This law adds many new very specific requirements and elements to the agreement and negotiations, whether both as a buyer or a seller, that are stacked in the buyer’s favor.

    Fail to use a specifically and carefully drafted Contract for Deed in Illinois at your own peril!

    This new law is named The Installment Contract Sales Act. Read it here:
    http://ilga.gov/legislation/ilcs/ilcs3.asp?ActID=3813&ChapterID=62

    Reply
  25. Farion Houston says:
    May 14, 2018 at 3:47 pm

    This document was a major deal saver for us!

    Reply
  26. Michael Putman says:
    March 6, 2019 at 3:35 pm

    Great documents!

    Reply
  27. Victor Spurigo says:
    March 7, 2019 at 9:46 pm

    Ron continues to say do not worry about the paperwork, but this is what will get you into a lawsuit. I live in Las vegas, Nevada and Title companys close the deal not attorneys and some title companies will not do these creative deals.

    Anyone in the Las Vegas are doing this type of deals.

    Reply
  28. Albert Lujan says:
    March 15, 2019 at 9:24 pm

    We’re do I find purchase and sale agreement? Albert

    Reply
  29. Roger & Lu Young says:
    April 7, 2019 at 4:54 am

    The Agreement for Deed – Buying is a fantastic form. Covers everything you need when buying. Thanks for these great forms.

    Reply
  30. Ian Lemke says:
    June 8, 2019 at 3:54 pm

    seems like there is some uncertainty as to when this form is used. I’m working on an owner-financing deal so I’ll print this and bring it to the appointment.

    Reply
  31. Wally Tiburcio says:
    December 16, 2019 at 10:53 am

    thank you

    Reply

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