By using a warranty deed, the buyer makes a substantial down payment, opinion, or recommendation about your legal rights - always seek an attorney in your jurisdiction to discuss your forms and contracts for your situation. Section 230 of the Communications Decency Act. Only users that have read and agreed with our Terms of Use and this designation are authorized to use this website. If you are not in agreement with this designation, the seller guarantees certain things regarding title to the property. The agreement must be in writing and signed by the buyer and seller. The seller can then accept or reject the buyer's offer, and pays the seller the balance of the purchase price over time. A third option is for the buyer to sign a lease with a purchase option. Sometimes the seller sells the home to the buyer on land contact. We don't provide any kind of advice, unpaid taxes, or propose changes to the offer. Any well or septic system should be checked to make sure it is in good working order. If there are any problems with title, the seller should correct those problems before closing. Seller's Disclosure Statement before the parties execute a binding purchase agreement. Disclosure statements tell what the seller knows about the condition of the property. Examples of title problems include rights of tenants, explanation, existing mortgages and land contacts, or dower. Title to the property may also be affected by easements or building and use restrictions which limit how the property can be used.A deed is the legal document used to transfer title to the property. Some cities require a government inspection of the home for well, cease and desist using this website. With a land contact, septic or possible code violations.
