Vick Contracts

Vick Contracts: What You Need to Know

If you’re in the business of real estate, you’ve likely heard of a “Vick contract,” also known as a “vacant land contract.” These contracts are commonly used in the sale of undeveloped land, such as agricultural land, timberland, or raw land not yet zoned for commercial or residential development.

So, what exactly is a Vick contract and why should you consider using one? Here’s what you need to know.

What is a Vick Contract?

A Vick contract is a type of land sale contract that is often used when selling raw or undeveloped land. Unlike a traditional real estate sale, where a buyer obtains a mortgage and pays for the property in full at closing, a Vick contract involves the buyer making payments over time to the seller, typically over the course of several years.

Vick contracts are appealing to both buyers and sellers for a number of reasons. For buyers, they may not have the cash on hand to purchase the land outright, or they may not qualify for a traditional mortgage. A Vick contract allows them to make payments over time and may also provide more flexibility in terms of negotiating the purchase price.

For sellers, Vick contracts can be an attractive option for selling land that may be difficult to sell through traditional means. By offering financing to buyers, sellers may be able to sell their land more quickly and at a higher price.

How Do They Work?

In a Vick contract, the buyer typically makes a down payment and then makes regular payments to the seller over a specified period of time, such as 5 or 10 years. The contract will specify the payment schedule, interest rate, and any penalties for missed payments. The buyer does not receive the deed to the property until all payments have been made and the contract is fulfilled.

One important thing to note is that Vick contracts are not regulated by state or federal law, so the terms of the contract can vary widely. It’s important to work with an experienced real estate attorney to ensure that the contract is fair and legally binding.

Advantages and Disadvantages of Vick Contracts

As with any type of financial agreement, there are both advantages and disadvantages to using a Vick contract.


– Allows buyers to purchase land without having to obtain a traditional mortgage

– Provides sellers with a larger pool of potential buyers

– May result in a higher sale price than a traditional real estate sale

– Can be a more flexible and customizable option than a traditional sale


– May be more risky for buyers, as they do not receive the deed until the contract is fulfilled

– Interest rates may be higher than traditional mortgage rates

– There may be penalties for missed payments

– The contract terms can vary widely and may not be regulated by state or federal law

In conclusion, Vick contracts can be an effective option for buying or selling undeveloped land. However, it’s important to work with an experienced real estate attorney to ensure that the contract is fair and legally binding. If you’re considering a Vick contract, make sure to weigh the advantages and disadvantages carefully and understand the terms of the contract before signing on the dotted line.