What is a key aspect of the seller's role in a land contract?

In a land contract, one of the primary roles of the seller is to retain the deed to the property until the buyer has fulfilled all payment obligations. This arrangement serves as a form of security for the seller, ensuring that they have a vested interest in the property's condition and in the buyer's commitment to making the agreed-upon payments. By keeping the deed, the seller maintains control over the property until the buyer completes their financial obligations. This structure also protects the seller from the risk of default by the buyer, allowing them to retain ownership rights until the terms of the agreement are fully satisfied.

Other options do not reflect standard practices in a land contract. For instance, the seller is not obligated to provide financing or insurance; those responsibilities can vary based on the terms negotiated between the parties. Additionally, the negotiation of the price is a component of the overall agreement but does not define the seller’s ongoing role in a land contract as effectively as the aspect of retaining the deed.