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.
Fargo North Dakota Buyer's Request for Accounting from Seller under Contract for Deed involves a comprehensive evaluation of financial records and transactions related to a property purchased under a Contract for Deed agreement. This request is typically made by the buyer to the seller to ensure transparency and accuracy throughout the transaction process. The buyer has the right to receive detailed information regarding the financial aspects of the property before finalizing the deal. Keywords: Fargo North Dakota, buyer's request, accounting, seller, contract for deed, financial records, transactions, transparency, accuracy, property, finalizing. Types of Fargo North Dakota Buyer's Request for Accounting from Seller under Contract for Deed: 1. Financial Statement Review: The buyer may request a detailed analysis of the seller's financial statements, including balance sheets, income statements, and cash flow statements. This review helps the buyer assess the financial health of the seller and ensures transparency in the deal. 2. Transaction History: The buyer may request a comprehensive report of all financial transactions related to the property under consideration. This includes purchase price, down payment, interest charges, principal payments, and any other financial obligations the seller has incurred. 3. Tax Documentation: The buyer may require the seller to provide all relevant tax documents, such as property tax statements, income tax returns, and any outstanding tax obligations. This ensures that the property's tax status is in order and helps the buyer plan for future tax liabilities. 4. Insurance Review: The buyer may request information about any insurance policies held by the seller on the property. This includes verification of current coverage, policy limits, and premiums paid. It helps the buyer assess the adequacy of insurance protection and avoid potential risks. 5. Maintenance and Repair Records: The buyer may ask for a detailed report on all maintenance and repairs performed on the property by the seller. This information helps the buyer understand the property's condition, identify any recurring issues, and plan for future maintenance expenses. 6. Escrow Account Verification: In some cases, the seller may hold funds in an escrow account to cover ongoing property expenses, such as utilities or property taxes. The buyer may request an accounting of the escrow account to ensure that the funds have been managed appropriately. Overall, a Fargo North Dakota Buyer's Request for Accounting from Seller under Contract for Deed serves as a crucial step in the property purchasing process. It helps protect the buyer's interests by ensuring transparency, accuracy, and proper financial management throughout the transaction.
