What happens here is the seller draws up a Warranty Deed for the parcel of interest and signs that in the presence of a Notary Public. Prior to this, a title search, title insurance, etc. is done that insures the Warranty Deed is actually for something other than a chunk of blue sky. Then the buyer and seller agree on terms of the contract for deed, which is then signed, sealed by a Notary Public, and delivered to the courthouse for recording. The Recorder then publishes a Notice of Purchaser’s Interest that notifies all that the property is under a pending contract. Terms and amounts are not made public by the notice of purchaser’s interest. The Warranty Deed is then deposited with an Escrow agency that will see to it that the terms of the C4D are complied with. They typically receive the payments due and forward those, minus their fees to the seller. Once all terms have been fulfilled, they deliver the Deed to the County Recorder, who officially records it and delivers it to you. If you default, the Escrow Agent returns the Deed to the seller who is then free to tear it up and forget about it ever happening while he keeps any money you may have paid.

Escrow agent acts as an impartial middleman and is important to the whole deal to keep anyone from backing out or otherwise trying to beat the agreed upon terms.

The C4D form doesn’t accomplish much all by itself unless there is a signed and sealed Deed and an Escrow agency to keep things square. A lawyer to see things are done up all neat and legal isn’t going to cost much as compared with the other money that you will be spending.