New Land/Lot Purchase Contract

We have used the Real Estate Purchase Contract as a template for the new Residential Land/Lot Purchase Contract. The above modifications to the Real Estate Purchase Contract have been incorporated into this document.

This document was designed to incorporate the items one needs to consider when purchasing a vacant lot or land for building a home.

• Paragraph 3: Provides that notices involved in the contract will be sent to the address noted on the signature page. For example the Buyer may want all correspondence to go to his or her attorney.
• Paragraph 4.3: Incorporates the items for inspection that a Buyer and Agent should think about when determining what to have inspected.
• Paragraph 5: Has been modified to take into consideration lot splits and the possibility that the governing governmental authority could require a new survey for the remaining acreage.
• Paragraph 8.2: This paragraph has been modified to include leases on land, crops and natural resources.

The Columbus Bar Association does not want their logo on this document. They do not want people to think this is an approved document for the purchase of Commercial land or large tracts of land for development. An attorney should write contracts for those types of transactions.

Therefore, we have named this document the "Residential Land/Lot Purchase Contract" to emphasize that this document is for lot purchases in a subdivision or small tracts of land to build a home upon.