Legal Question in Real Estate Law in Pennsylvania

Re: Article of Agreement

Under no circumstances should you deed the property to the buyer before the full amount is paid.

You should seek the services of a local real estate lawyer who could prepare an installment sale agreement, setting forth the terms of how much is paid to begin, over what period of time the buyer will pay the balance, and that title will be transferred to the buyer only when the buyer has satisfied all conditions. There are other terms that should be included.

This is NOT a do-it-yourself thing, you must protect your rights in the property and then be sure that the property is properly transferred, or you will end up with taxes, utilities and other charges continuing to accrue against you after you thought you'd transferred title to the buyer.

Re: Article of Agreement

You may want to do an agreement for sale, with a lease for use prior to closing in 6 months. All terms need to be addressed up front. This is not something you can 'fix' later, it has to be done right from the beginning! If you are afraid they will back out later, make the 1/2 down forefitted upon breach of the sale agreement.

Miriam is right, you need an attorney, because these things are NOT black+white, and the liability is too great.