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.
Keywords: Tucson Arizona, buyer's request for accounting, seller under contract for deed, types Description: A Tucson Arizona Buyer's Request for Accounting from Seller under Contract for Deed is a legal document that allows the buyer of a property to request detailed financial information from the seller regarding the property's financial transactions and obligations. This request is typically made when a buyer purchases a property through a contract for deed arrangement. A contract for deed, sometimes referred to as a land contract or installment sale agreement, is a financing option where the buyer agrees to make monthly payments directly to the seller until the purchase price is paid in full. During this time, the seller retains legal ownership of the property while the buyer has equitable ownership and is responsible for any maintenance or repairs. There are different types of Tucson Arizona Buyer's Request for Accounting from Seller under Contract for Deed, including: 1. Financial Statement Request: This type of request aims to gather financial statements from the seller, including income statements, balance sheets, and cash flow statements. The buyer wants to ensure that the property's income and expenses are accurately represented, and there are no hidden liabilities that could affect their investment. 2. Transaction History Request: This request focuses on obtaining a comprehensive transaction history from the seller, including copies of leases, rent rolls, utility bills, property tax records, and any other income or expense-related documentation. The buyer wants to review past financial transactions to assess the property's profitability and potential risks. 3. Escrow Account Verification: If the buyer and seller have agreed to establish an escrow account for the contract for deed arrangement, the buyer may request an accounting of the funds held in the escrow account. This typically includes a detailed breakdown of all incoming and outgoing funds related to the property's expenses, such as property taxes, insurance, and repairs. 4. Loan Payment Verification: In some cases, the buyer may request verification of the seller's loan payments, especially if the contract for deed arrangement involves an existing mortgage on the property. The buyer wants to ensure that the seller is fulfilling their financial obligations and that there are no potential issues that could affect the buyer's equitable ownership. When submitting a Tucson Arizona Buyer's Request for Accounting from Seller under Contract for Deed, it is crucial to include all relevant details and documentation to support the request. Both parties should carefully review the terms of the contract for deed and consult with legal professionals to ensure compliance with local laws and regulations.Keywords: Tucson Arizona, buyer's request for accounting, seller under contract for deed, types Description: A Tucson Arizona Buyer's Request for Accounting from Seller under Contract for Deed is a legal document that allows the buyer of a property to request detailed financial information from the seller regarding the property's financial transactions and obligations. This request is typically made when a buyer purchases a property through a contract for deed arrangement. A contract for deed, sometimes referred to as a land contract or installment sale agreement, is a financing option where the buyer agrees to make monthly payments directly to the seller until the purchase price is paid in full. During this time, the seller retains legal ownership of the property while the buyer has equitable ownership and is responsible for any maintenance or repairs. There are different types of Tucson Arizona Buyer's Request for Accounting from Seller under Contract for Deed, including: 1. Financial Statement Request: This type of request aims to gather financial statements from the seller, including income statements, balance sheets, and cash flow statements. The buyer wants to ensure that the property's income and expenses are accurately represented, and there are no hidden liabilities that could affect their investment. 2. Transaction History Request: This request focuses on obtaining a comprehensive transaction history from the seller, including copies of leases, rent rolls, utility bills, property tax records, and any other income or expense-related documentation. The buyer wants to review past financial transactions to assess the property's profitability and potential risks. 3. Escrow Account Verification: If the buyer and seller have agreed to establish an escrow account for the contract for deed arrangement, the buyer may request an accounting of the funds held in the escrow account. This typically includes a detailed breakdown of all incoming and outgoing funds related to the property's expenses, such as property taxes, insurance, and repairs. 4. Loan Payment Verification: In some cases, the buyer may request verification of the seller's loan payments, especially if the contract for deed arrangement involves an existing mortgage on the property. The buyer wants to ensure that the seller is fulfilling their financial obligations and that there are no potential issues that could affect the buyer's equitable ownership. When submitting a Tucson Arizona Buyer's Request for Accounting from Seller under Contract for Deed, it is crucial to include all relevant details and documentation to support the request. Both parties should carefully review the terms of the contract for deed and consult with legal professionals to ensure compliance with local laws and regulations.
