Down Payment Installment agreement-Assorted Legal Forms

The down payment and installment agreement for loan

Getting a loan is not very easy these days. You should have a strong credit score and a high paying job so that the lender can be sure. But that is genuine and should be done. Besides that there are also a very long procedure that involves checking and rechecking of documents. It takes a very long time to pass all the steps. If you have done all this and your loan has been approved you should feel lucky. However you should not relax just yet. You cannot celebrate until you have finalized the down payment and installment agreement. Here are some tips.

  • The first step should be to negotiate the terms of the loan. This includes the interests, down payment and monthly installment. You will have to try very hard to get the best deal. If you do not have good negotiating skills you should ask a friend to talk on your behalf. When you have the lowest amount possible, you should move over to the agreement.
  • In most cases the lender gets the contract prepared. So, you do not have to worry about that. But this does not mean that you should sign whatever piece of paper comes in front of you. It is your duty to get the contract checked and to make sure that everything is just as agreed upon. You can hire or consult an expert to check that there are no terms that can create problems for you in the future.

Down Payment Installment Agreement

Down Payment Installment Agreement

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Sample Template Preview

Down Payment Installment Agreement

Tenant’s Name:

Property Address:

Date:

Tenant move in date:

The Tenant has given the Management Company of this property $______________ as an initial non refundable option consideration amount. Management and Tenant hereby agree that Tenant will pay an additional sum of $___________________ due monthly for a term of _____ concurrent months to Management under the down payment installment plan. Management shall apply additional monthly sum towards the remainder of the option consideration balance of $__________   until Tenant possesses an eventual option consideration balance of $____________________.

This money is for the Tenant’s non refundable option consideration and is NOT extra fees above the agreed upon rent for this unit!

Tenant has elected to purchase a 12 month exclusive option on the above referenced property. Tenant’s failure to pay the additional monthly sum on time shall constitute breach and will result in cancellation of the option agreement, and that ALL OPTION MONIES WILL BE FORFEITED BY TENANT.  Tenant’s right to exercise the option is also subject to the Tenant being in compliance with all the terms of the Lease.   int.____

Initial Option Payment Amount:

Start Date and Terms of Additional Payments:

Ending Date:

End Option Consideration Balance:

___________________________        _________________________

Tenant/Date                        Management/Date