Installment Sale Agreement

INSTALLMENT SALE AGREEMENT
(Land Contract / Contract for Deed)
This Installment Sale Agreement ("Agreement") is entered into as of [Date] by and between:
SELLER: [Seller Full Legal Name], [Seller Address] ("Seller")
BUYER: [Buyer Full Legal Name], [Buyer Address] ("Buyer")
PROPERTY DESCRIPTION:
The real property located at [Property Address], [City], [State] [ZIP], legally described as follows:
[Full Legal Description] ("Property")
RECITALS:
WHEREAS, Seller is the owner of the Property and desires to sell it to Buyer on an installment basis; and
WHEREAS, Buyer desires to purchase the Property from Seller on the terms set forth herein;
NOW, THEREFORE, the parties agree as follows:
ARTICLE 1 — SALE PRICE AND TERMS
1.1 Total Sale Price: [Sale Price]
1.2 Down Payment: Buyer shall pay [Down Payment] as a down payment at the time of execution of this Agreement. The down payment is non-refundable unless Seller defaults.
1.3 Installment Balance: [Sale Price] minus [Down Payment] equals $[Installment Balance] ("Installment Balance"), which shall be paid according to the installment schedule herein.
1.4 Monthly Installment Payment: Buyer shall pay [Monthly Payment] per month, due on the [Day] day of each month, beginning [First Payment Date].
  — Monthly payment allocated:

[Section 2 — continued...]

[Section 3 — fill in your details...]

[Additional clauses and provisions apply...]