ACKNOWLEDGMENT DOWN PAYMENT ON PURCHASE

Get the receipt from the seller after paying “down payment” for the property

Are you purchasing your dream property? Then, you need to prepare acknowledgment down payment on purchase agreement. This is very important for you to prepare because this stands as a concrete proof that you have made a down payment of a specified amount to the seller of the property. You can find this acknowledgment down payment on purchase form either in online or hire an attorney to get this form prepared without any kind of legal knots. Most importantly, after preparing this agreement, both the buyer and seller have to read the terms and conditions without getting over excited and sign it. Usually, there are times that the agreement will be in favor of one party, so it is important for both the parties to read the agreement without falling prey to any kind of legal lawsuits.

Usually, this agreement is made between the buyer and seller, so, it is important to include the names of both buyer and seller in this agreement along with the date on which the down payment was made. You need to name the property that is sold to the buyer. It is important to include the amount the buyer has paid to the seller in dollars, along with the date, month and year clearly as a down payment. Usually, this down payment is an addition to the purchase price of the property. This receipt or agreement has to be prepared by the seller and handover to the buyer. However, both seller and buyer have to keep the copy of this receipt until the transaction is closed completely. This agreement has to be signed by both the parties along with date. However, this receipt will be valid, only if the witnesses sign for it.

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Sample Template Preview

ACKNOWLEDGMENT
DOWN PAYMENT ON PURCHASE

The following shall be considered a legally binding amendment to the agreement made between _________________________________ and _________________________,
dated ___________________, for the sale of _________________________________:

Of the purchase price, __________ Dollars is paid this _____ day of ___________ (month),
_____ (year), as a down payment, which shall be credited to the purchase price after completion of the transaction. Seller acknowledges receipt of this down payment.

_________________________________________    ______________________
Signature                            Date
_________________________________________    ______________________
Signature                            Date
_________________________________________    ______________________
Witness                            Date
_________________________________________    ______________________
Witness                            Date