New Property/New Tenant Information
Prepare new property and tenant details to avoid litigations with finance department
Are you planning to prepare New Property/New Tenant Information? Then, you need to download this sheet from online or hire an attorney to get this form prepared. This form includes the new property details and new tenant’s details clearly. The first and foremost thing that has to be entered in this sheet is the person who is preparing this information. In this preparer’s field, he/she has to enter their name. The new property address and approximate retail value have to be entered in their designated fields. Usually, for this new property, it is important to have the seller information. This sheet includes the seller’s name, his/her social security number, seller mobile number, date of birth, and date on which the property was acquired by him/her. This New Property/New Tenant Information has to be filled without any errors, since any errors may results in legal disputes in the near future.
Usually, the duty of the preparers is to check whether all the documents that are with the seller are signed or not. Most importantly, this should include the trustee name and the beneficiary who is going to get benefitted. If the seller has availed a loan on this property, then it is important to include the lender’s name, phone number, loan number, amount to be paid every month, and the approximate loan balance. It is important for the preparers to check with the seller on whether or not the property need to be reinstated, the insurance escrowed, whether or not the mortgage company know that the seller is transferring the property to others name, etc.
Most importantly, this sheet should include the investor’s name, date of loan, loan amount, amount to be paid monthly, first loan amount to be paid, and first payment due. Apart from the new property details, this sheet also includes new tenant details such as tenant name, tenancy term period, phone number, occupation, monthly lease payment, date on which payment to be made, security deposits, late fee terms, the amount deducted for repairing the property, and prorated amount. After filling the details, this has to be signed by the accounts department along with the date.
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