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.
The San Jose California Buyer's Request for Accounting from Seller under Contract for Deed is a formal document that allows a buyer to request an accounting from the seller regarding the financial transactions related to the sale and purchase agreement made under a Contract for Deed. This request aims to ensure transparency and accountability in the financial aspects of the agreement. The buyer's request for accounting typically includes relevant keywords such as: 1. Contract for Deed: This refers to a financial agreement in which the buyer agrees to make regular payments directly to the seller, who holds the legal title until the full payment is made. It is an alternative financing option for buyers who may not qualify for traditional mortgage loans. 2. Accounting: This term refers to the systematic recording, analyzing, and reporting of financial transactions related to the Contract for Deed. It includes a detailed breakdown of payments made by the buyer, any interest charges or penalties imposed, and any credits or adjustments applied. 3. Seller's Financial Statement: This document is typically requested by the buyer to assess the seller's financial standing and ability to fulfill their obligations under the Contract for Deed. It includes details of the seller's income, expenses, assets, and liabilities. 4. Payment Schedule: The buyer may request a detailed payment schedule from the seller, which outlines the frequency and amount of payments due under the Contract for Deed. This ensures that both parties are aware of their respective payment obligations. 5. Escrow Account: The buyer may inquire about the existence and management of an escrow account, which is a neutral third-party account used to hold funds for the purpose of paying property taxes, insurance, or other expenses related to the contract. 6. Documentation of Payments: The buyer may request documentation, such as receipts or statements, to verify the accuracy of payments made to the seller. This helps ensure that all payments have been properly accounted for and credited. 7. Interest Calculation: If there is an agreed-upon interest rate specified in the Contract for Deed, the buyer may request an explanation and calculation of the interest charges applied to the outstanding balance. It is important to note that while these keywords are relevant to a San Jose California Buyer's Request for Accounting from Seller under Contract for Deed, the specific terms and requirements may vary depending on the individual agreement and the needs of the buyer.
