This Seller's Disclosure Notice of Financing Terms Contract for Deed serves as notice to Purchaser of the purchase price of property and how payments, interest, and late charges are set. This document should be completed by Seller of property and provided to the Purchaser at or before the signing of the contract for deed.
The Fulton Georgia Seller's Disclosure of Financing Terms for Residential Property in connection with a Contract or Agreement for Deed, also known as a Land Contract, is an important document that outlines the details of the financing arrangement between the seller and the buyer for a residential property in Fulton County, Georgia. This disclosure ensures transparency and allows both parties to fully understand the terms and conditions of the financing agreement. The disclosure typically includes the following information: 1. Purchase Price: The agreed-upon price for the residential property. 2. Down Payment: The initial amount the buyer has agreed to pay upfront as a down payment. 3. Interest Rate: The annual interest rate applied to the remaining balance of the property's purchase price, if applicable. 4. Term Length: The length of time the buyer has to complete the payment on the property. 5. Monthly Payments: The amount the buyer is required to pay the seller each month, including any principal and interest components. 6. Late Payment Penalties: Any additional fees or penalties imposed by the seller if the buyer fails to make timely payments. 7. Call Provision: A provision that allows the seller to call in the loan balance and demand full payment if certain conditions are not met, such as default by the buyer. 8. Default and Remedies: The consequences and remedies available to the seller in the event of a buyer's default, including the possibility of repossession and foreclosure. 9. Insurance and Taxes: Whether the buyer is responsible for obtaining insurance coverage and paying property taxes during the financing period. 10. Maintenance and Repairs: Clarification on who is responsible for maintaining and repairing the property during the financing period. 11. Possession and Title: Agreement on when the buyer will take possession of the property and when the title will be transferred upon completion of payments. Some variations of the Fulton Georgia Seller's Disclosure of Financing Terms for Residential Property in connection with a Contract or Agreement for Deed may exist, depending on the specific terms negotiated between the parties. It is always essential to review and understand the specific disclosure provided in each transaction.The Fulton Georgia Seller's Disclosure of Financing Terms for Residential Property in connection with a Contract or Agreement for Deed, also known as a Land Contract, is an important document that outlines the details of the financing arrangement between the seller and the buyer for a residential property in Fulton County, Georgia. This disclosure ensures transparency and allows both parties to fully understand the terms and conditions of the financing agreement. The disclosure typically includes the following information: 1. Purchase Price: The agreed-upon price for the residential property. 2. Down Payment: The initial amount the buyer has agreed to pay upfront as a down payment. 3. Interest Rate: The annual interest rate applied to the remaining balance of the property's purchase price, if applicable. 4. Term Length: The length of time the buyer has to complete the payment on the property. 5. Monthly Payments: The amount the buyer is required to pay the seller each month, including any principal and interest components. 6. Late Payment Penalties: Any additional fees or penalties imposed by the seller if the buyer fails to make timely payments. 7. Call Provision: A provision that allows the seller to call in the loan balance and demand full payment if certain conditions are not met, such as default by the buyer. 8. Default and Remedies: The consequences and remedies available to the seller in the event of a buyer's default, including the possibility of repossession and foreclosure. 9. Insurance and Taxes: Whether the buyer is responsible for obtaining insurance coverage and paying property taxes during the financing period. 10. Maintenance and Repairs: Clarification on who is responsible for maintaining and repairing the property during the financing period. 11. Possession and Title: Agreement on when the buyer will take possession of the property and when the title will be transferred upon completion of payments. Some variations of the Fulton Georgia Seller's Disclosure of Financing Terms for Residential Property in connection with a Contract or Agreement for Deed may exist, depending on the specific terms negotiated between the parties. It is always essential to review and understand the specific disclosure provided in each transaction.
