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In a Land Contract, What Are Typical Closing Costs and Down Payment Amounts?

Rarely is anything “typical” as to closing costs or down-payment percentages as they related to the content of a Land Contract, as both items are negotiable and based on the interests of the parties specific to the contract. Settlement costs (also called closing costs) can be estimated or determined by contacting a closing agent or title company that would or could assist in closing the real estate transaction. Those costs can then be built into the contract, assumed by one party or the other or shared in some percentage.

The down-payment amount also is based on a negotiation that can only be decided by the buyer and seller. There is no common or typical down payment percentage in a Land Contract.

To easily and affordably create a customized “contract for deed”, see Standard Legal’s Land Contract legal forms software page.

Land Contract Questions  ·  August 5th, 2010

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