This is a Purchaser's Request of Accounting Statement from Seller. It is a request in writing to receive an accounting of the payments paid since the contract was made and a breakdown of any interest, fees, costs, taxes and insurance paid. It is also a request for the balance due on the contract.
Gilbert Arizona Buyer's Request for Accounting from Seller under Contract for Deed refers to a document or formal communication initiated by a buyer in Gilbert, Arizona, who has entered into a contract for deed agreement with a seller. This request aims to obtain specific accounting information from the seller regarding the transaction and financial details related to the property being sold. The buyer's request for accounting under the Contract for Deed involves the exchange of pertinent financial documents and data to ensure transparency and accuracy in the ongoing agreement. Key elements that may be included in the request are: 1. Purchase Price Breakdown: The buyer may ask the seller to provide a detailed breakdown of the purchase price, including any down payment, principal balance, interest rates, and other financing costs associated with the contract for deed. 2. Payment History: The buyer may request a comprehensive payment history showing all payments made by the buyer and any applicable late fees or penalties. This will help the buyer track their progress in meeting their financial obligations. 3. Interest Accrual: If interest is being charged on the contract for deed agreement, the buyer may ask the seller to provide details on how interest is calculated, accrued, and applied to the outstanding balance. 4. Taxes and Insurance: The buyer may request documentation relating to property taxes and insurance payments, ensuring they are appropriately accounted for and paid in a timely manner. 5. Maintenance and Repairs: The buyer may seek information regarding any maintenance or repair expenses related to the property, as specified in the contract for deed agreement. This will help the buyer ensure that the seller is fulfilling their obligations in maintaining the property. Different types or variations of Gilbert Arizona Buyer's Request for Accounting from Seller under Contract for Deed may include specific requests tailored to the unique terms and conditions outlined in a particular contract. For instance, additional requests may involve: 6. Title Investigation: The buyer may require the seller to provide documentation confirming clear and marketable title to the property, ensuring there are no outstanding liens, judgments, or encumbrances. 7. Disclosure of Liabilities: The buyer may request the seller to disclose any outstanding mortgages, debts, or obligations associated with the property, which can impact the buyer's understanding of the overall financial position of the property. 8. Homeowner Association (HOA) Fees: In case the property is subject to an HOA, the buyer may ask for verification of HOA fees, payment history, and any upcoming or outstanding assessments. 9. Property Inspection Reports: The buyer may request copies of any recent property inspection reports conducted to ensure awareness of any existing or potential issues that may require attention or resolution. In summary, a Gilbert Arizona Buyer's Request for Accounting from Seller under Contract for Deed plays a crucial role in clarifying financial matters and ensuring transparency between the buyer and seller. By requesting specific accounting information and documentation, the buyer can maintain a comprehensive record of their financial obligations and gain clarity on the overall financial health of the property.
