Story County Real Estate Contract-Installments Form

Story County Real Estate Contract-Installments Form
Fill in the blank Real Estate Contract-Installments form formatted to comply with all Iowa recording and content requirements.

Story County Real Estate Contract-Installments Guide
Line by line guide explaining every blank on the Real Estate Contract-Installments form.

Story County Completed Example of the Real Estate Contract-Installments Document
Example of a properly completed Iowa Real Estate Contract-Installments document for reference.

Story County Contract Disclosure Form
Required by seller for certain residential property.

Story County Lead Based Paint Disclosure Form
Required for residential property built before 1978.

Story County Protect your family from lead based paint
Issue to buyers if lead based paint disclosure is required.

Story County Annual Accounting Statement Form
Issue to buyers at end of year for fiscal year reporting, interest paid, etc.
All 7 documents above included • One-time purchase • No recurring fees
Immediate Download • Secure Checkout
Additional Iowa and Story County documents included at no extra charge:
Where to Record Your Documents
Story County Recorder
Nevada, Iowa 50201
Hours: 8:00am to 5:00pm Monday through Friday / Recording until 3:30pm
Phone: (515) 382-7230
Recording Tips for Story County:
- Check that your notary's commission hasn't expired
- Check margin requirements - usually 1-2 inches at top
- Recording fees may differ from what's posted online - verify current rates
- Make copies of your documents before recording - keep originals safe
Cities and Jurisdictions in Story County
Properties in any of these areas use Story County forms:
- Ames
- Cambridge
- Collins
- Colo
- Gilbert
- Huxley
- Kelley
- Maxwell
- Mc Callsburg
- Nevada
- Roland
- Slater
- Story City
- Zearing
Hours, fees, requirements, and more for Story County
How do I get my forms?
Forms are available for immediate download after payment. The Story County forms will be in your account ready to download to your computer. An account is created for you during checkout if you don't have one. Forms are NOT emailed.
Are these forms guaranteed to be recordable in Story County?
Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Story County including margin requirements, content requirements, font and font size requirements.
Can I reuse these forms?
Yes. You can reuse the forms for your personal use. For example, if you have multiple properties in Story County you only need to order once.
What do I need to use these forms?
The forms are PDFs that you fill out on your computer. You'll need Adobe Reader (free software that most computers already have). You do NOT enter your property information online - you download the blank forms and complete them privately on your own computer.
Are there any recurring fees?
No. This is a one-time purchase. Nothing to cancel, no memberships, no recurring fees.
How much does it cost to record in Story County?
Recording fees in Story County vary. Contact the recorder's office at (515) 382-7230 for current fees.
Questions answered? Let's get started!
In Iowa, a "Real Estate Contract–Installments" (commonly referred to as a contract for deed or installment land contract) is an agreement in which the seller finances the purchase of real estate for the buyer. The buyer makes payments over time, but the seller retains legal title to the property until the contract is fully paid.
When Applicable:
A real estate contract for installments is commonly used in the following situations:
1. Buyer Cannot Obtain Traditional Financing:
Buyers who are unable to secure a traditional mortgage due to poor credit, lack of credit history, or other financial barriers may use a real estate contract.
The seller essentially acts as the lender, providing an alternative to bank financing.
2. Seller-Owned Properties:
The property is owned outright by the seller, and the seller agrees to sell the property under a financing arrangement.
3. Vacant Land or Unique Properties:
Installment contracts are often used for rural or vacant land, or for properties that might not qualify for traditional financing.
4. Investor Arrangements:
Real estate investors sometimes use installment contracts to purchase properties while deferring full payment.
5. Tax Advantages for Sellers:
A seller may prefer an installment sale for tax purposes because the capital gains tax is spread out over the term of the payments.
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Key Features of an Iowa Real Estate Contract–Installments:
1. Retention of Legal Title:
The seller retains legal title to the property until the buyer fulfills the terms of the contract (usually full payment of the purchase price).
2. Possession Rights:
The buyer typically takes possession of the property and assumes responsibility for taxes, insurance, and maintenance.
3. Payment Structure:
Payments are made in regular installments over a specified period, often including principal and interest.
4. Default and Termination:
If the buyer defaults, Iowa law provides specific protections and procedures for termination, including potential forfeiture of payments and the return of property to the seller.
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Legal Requirements in Iowa:
Iowa Code § 558.46 outlines specific requirements for installment real estate contracts, including:
1. Written Agreement:
The contract must be in writing and signed by both parties.
2. Recording Requirements:
The seller must record the contract with the county recorder where the property is located within 180 days of execution. Failure to do so can lead to penalties and make the contract unenforceable.
3. Disclosure Statement:
Iowa Code § 558.70 requires sellers to provide a disclosure statement detailing the terms of the contract (e.g., purchase price, interest rate, payment schedule, and property description).
4. Forfeiture or Foreclosure:
If a buyer defaults, the seller may pursue forfeiture under Iowa Code Chapter 656 or foreclosure through court proceedings. Forfeiture is faster but generally results in the buyer losing all payments made.
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Advantages and Disadvantages:
Advantages for Buyers:
Easier access to property ownership without traditional financing.
Flexible terms negotiated directly with the seller.
Immediate possession and use of the property.
Disadvantages for Buyers:
Higher risk of forfeiture if unable to meet payment terms.
No legal title until the contract is fulfilled.
Potentially higher costs than traditional financing.
Advantages for Sellers:
Ability to sell property without requiring the buyer to obtain financing.
Opportunity to earn interest on the sale price.
Retention of legal title as security for the agreement.
Disadvantages for Sellers:
Risk of buyer default.
Responsibility for legal action in case of default or disputes.
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Situations Requiring Legal Advice:
1. Complex Terms: Buyers or sellers negotiating complex installment contracts should seek legal advice to ensure fair terms and compliance with Iowa law.
2. Default: Understanding rights and remedies in the event of a default is crucial for both parties.
3. Disclosures and Recording: Ensuring compliance with Iowa Code §§ 558.46 and 558.70 is essential to avoid penalties and legal issues.
For a valid and enforceable agreement, both parties should consult a real estate attorney to draft or review the contract.
In Iowa, real estate installment contracts—commonly known as contracts for deed—are governed by specific statutes designed to protect both buyers and sellers. Key provisions include:
Mandatory Recording of Contracts:
• Iowa Code § 558.46: Sellers must record residential real estate installment sales contracts with the county recorder where the property is located within 90 days of execution. Failure to record prohibits the seller from initiating forfeiture proceedings based on contract non-compliance.
• Iowa Code § 558.46 (4). If a real estate contract is required to be recorded under this section, the requirement is satisfied by recording either the entire real estate contract or a memorandum of the contract containing at least the names and addresses of all parties named in the contract, a description of all real property and interests in the real property subject to the contract, the length of the contract, and a statement as to whether the seller is entitled to the remedy of forfeiture and as to the dates upon which payments are due.
Contract Disclosure Requirements:
• Iowa Code § 558.70: Before executing a residential real estate installment sales contract, sellers must provide buyers with a written disclosure statement. This statement should include details such as the property's assessed value, any due property taxes or special assessments, existing mortgages or liens, a complete amortization schedule, interest rates, and any balloon payments. The disclosure ensures transparency and informs buyers of their rights and obligations.
Forfeiture Procedures:
• Iowa Code Chapter 656: This chapter outlines the procedures for forfeiture of real estate contracts in cases of buyer default. It specifies the notice requirements and timelines that sellers must follow to terminate the contract legally.
Real Estate Disclosures:
• Iowa Code Chapter 558A: This chapter mandates that sellers provide a disclosure statement to buyers, detailing the condition and characteristics of the property. The disclosure must be provided at least seven days before the execution of a real estate installment sales contract.
These statutes aim to ensure transparency, protect the interests of both parties, and maintain fair practices in real estate transactions involving installment contracts in Iowa.
Important: Your property must be located in Story County to use these forms. Documents should be recorded at the office below.
This Real Estate Contract-Installments meets all recording requirements specific to Story County.
Our Promise
The documents you receive here will meet, or exceed, the Story County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
Save Time and Money
Get your Story County Real Estate Contract-Installments form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties and local jurisdictions.
4.8 out of 5 - ( 4573 Reviews )
Faith D.
April 26th, 2023
That was really nice to use! Just don't have a computer but will go get copies. Thank you for being there.
Thank you!
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October 27th, 2021
Wow! This process was incredibly easy and no commitments to monthly memberships.
Thanks for the kind words Kimberly. Have an amazing day!
Don M.
September 9th, 2021
I find the site very difficult to nagitagte.
Sorry to hear that Don, we’ll try harder.
chris a.
February 17th, 2021
It was easy to complete the deed but on the third page I only need one signature in stead of 3 I need to delete 2 or put n//a in those blocks I will continue to use your services and have recommended it to others
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Marilyn C.
August 18th, 2021
A great service, making it fast and easy to prepare warranty deeds for property transfer sales. I recommend this to everyone who needs this help.
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August 1st, 2020
Fast and convenient.
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Robert K.
December 26th, 2018
This deed helped me a lot
Glad to hear that Robert. Have a great day!
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June 25th, 2021
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October 21st, 2019
The site was easy to navigate...all the information needed to fill in the forms was included, which was very helpful and a pleasant surprise...form completed in short order...made taking care of business quick and easy...Thanks for the thoughtful and excellent help, I will share the link with others and I will use the site again...Thanks
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Rose H.
March 22nd, 2021
I am so glad I found this resource! As the Executor of a family members estate I wanted to save money by bypassing a lawyer as it seemed pretty straight forward to tranfer a Life Estate to the remainderman. (I had original deeds). But talking with 3 different states and 4 different counties - none of which seemed to need the same documents, I was almost ready to dump this in a lawyer's lap. This resource makes it simple!
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BROOKE W.
February 16th, 2021
Great fillable form! And the separate instruction sheet was detailed and very clear. I particularly appreciate you including a sample of a completed form. I've filled in real estate forms before but never this one, and there were some things I didn't know.
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April C.
May 18th, 2021
Spot on forms and process. YMMV but way more efficient and cost effective than contacting an ambulance... attorney.
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William S.
June 4th, 2021
Contents were well done. Could not remove and replace the "Deeds/" footer, rendering the form unusable for filing with a court and county deed records. This should be corrected.
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Noal S.
May 18th, 2025
The download package is very thorough and complete for the Corrective Deed I needed to file. The material is state/county specific and includes a completed example. The price is reasonable compared to an attorney fee from $400 to $600
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Dan L.
May 31st, 2024
The only suggestion I have is to include sample of putting quitclaim into a revocable trust.
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