PURCHASE PROPOSITION DEFERRED PAYMENT
Purchase proposition deferred payment
Each seller sells his/her property with a totally different sum of money, which may include a complete payment or a monthly payment by the buyer or a tenant. Purchase proposition deferred payment, is the notice or a legal document that has to be signed by the buyer before he/she buys the property. It is the most important and most common document that is very essential before the exchange to take place. Each seller proceeds the notice to the buyer to understand, and make a complete decision regarding the payment before and after occupying the sellers property.
This legal notice to the buyer to sign, includes the total sum of money he/she needs to settle with the seller. This notice is for a record to the seller as well as the buyer for a legal understanding. It also asks the buyer to enter the payment of dues and a monthly payment that has to take place between the buyer and the seller of a particular property. After signing in this document, the seller thus proceeds to the final stage of transactions between the buyers. Thus, this document acts as a gateway to the purchase of any property that the seller has the rights on.
If the dues or any monthly payment is not credited by the buyer, the seller has all the rights to engage the problem with government officials, thus enabling the seller to send a vacate notice to the buyer. So, it is highly recommended for the buyer to read the notice with extreme care before proceeding to the buying of the property.
Sample Template Preview
If this proposition is accepted, the purchase price of ________________________ Dollars shall be paid as follows: _____________ (amount) ($________) in cash _______________ (on the acceptance of the proposition or at the opening of escrow), toward which payment the deposit tendered with this proposition shall be credited, and the balance, or __________ (amount) ($________), in equal ____________ (monthly or as the case may be) payments of _________________ (amount) ($________) each, including interest, thereafter, such payments to commence __________________ (within _____ days after the close of escrow or as the case may be) and to continue until the balance of the purchase price has been fully paid. Interest at the rate of __________________ percent per year shall be paid on the deferred balance, to be included in the periodic payments.
Payment of the deferred balance in the manner stated above shall be secured by _________
____________ (a purchase money mortgage or deed of trust to seller, in form approved by the attorney for seller or as the case may be).
- Agreement for sale of interest of purchaser
- Cash payment plus assumption of existing mortgage
- Contract Giving Grantor in Deed to Avoid Foreclosure the right to repurchase
- Erection of Building-Sales and Exchanges
- Forfeiture of Improvements
- Insurable Title
- Nevada – Seller’s Real Property Disclosure Form
- Offer to Purchase Real Estate
- PURCHASE BID OPEN STATED PERIOD
- Transfer to Occur after Closing