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.
Title: Comprehensive Overview of Portland Oregon Buyer's Request for Accounting from Seller under Contract for Deed Keywords: Portland Oregon, buyer's request, accounting, seller, contract for deed Introduction: When engaging in a real estate transaction such as a Contract for Deed in Portland, Oregon, it is crucial for buyers to understand their rights and responsibilities. This detailed description will walk you through the Portland Oregon Buyer's Request for Accounting from the Seller, focusing on the specifics of a Contract for Deed agreement. Types of Portland Oregon Buyer's Request for Accounting from Seller under Contract for Deed: 1. Initial Financial Statement: Upon signing the Contract for Deed, the buyer may request an initial financial statement from the seller to disclose any outstanding debts, liens, or encumbrances on the property. This statement will provide critical information for the buyer to assess the property's financial stability. 2. Annual Financial Reports: Buyers under a Contract for Deed have the right to request annual financial reports from the seller. These reports detail the property's income, expenses, liabilities, and any changes in the property's value. They enable buyers to ensure the property's financial health and identify any discrepancies. 3. Disclosure of Improvements and Repairs: Buyers can request an accounting from the seller regarding the improvements and repairs made to the property during their ownership. This information helps ensure that the seller has fulfilled their obligation to maintain the property in a satisfactory and safe condition. 4. Verification of Taxes and Insurance Payments: Buyers may request an accounting of property tax payments and insurance premiums made by the seller to confirm that they are up-to-date. This step provides a clear picture of the property's financial obligations and avoids potential issues with unpaid taxes or lapsed insurance coverage. 5. Verification of Payments towards the Principal Balance: Buyers can request an accounting of payments made by the seller towards the principal balance of the Contract for Deed. This information ensures that the seller is fulfilling their financial obligations and helps monitor the buyer's progress towards eventual ownership. Conclusion: In a Portland, Oregon real estate transaction involving a Contract for Deed, buyers can protect their interests by requesting various accounting from the seller. These requests serve to ensure financial transparency, identify any discrepancies or outstanding obligations, and allow buyers to make informed decisions. By understanding the types of buyer's requests available, buyers can navigate the Contract for Deed process with confidence.Title: Comprehensive Overview of Portland Oregon Buyer's Request for Accounting from Seller under Contract for Deed Keywords: Portland Oregon, buyer's request, accounting, seller, contract for deed Introduction: When engaging in a real estate transaction such as a Contract for Deed in Portland, Oregon, it is crucial for buyers to understand their rights and responsibilities. This detailed description will walk you through the Portland Oregon Buyer's Request for Accounting from the Seller, focusing on the specifics of a Contract for Deed agreement. Types of Portland Oregon Buyer's Request for Accounting from Seller under Contract for Deed: 1. Initial Financial Statement: Upon signing the Contract for Deed, the buyer may request an initial financial statement from the seller to disclose any outstanding debts, liens, or encumbrances on the property. This statement will provide critical information for the buyer to assess the property's financial stability. 2. Annual Financial Reports: Buyers under a Contract for Deed have the right to request annual financial reports from the seller. These reports detail the property's income, expenses, liabilities, and any changes in the property's value. They enable buyers to ensure the property's financial health and identify any discrepancies. 3. Disclosure of Improvements and Repairs: Buyers can request an accounting from the seller regarding the improvements and repairs made to the property during their ownership. This information helps ensure that the seller has fulfilled their obligation to maintain the property in a satisfactory and safe condition. 4. Verification of Taxes and Insurance Payments: Buyers may request an accounting of property tax payments and insurance premiums made by the seller to confirm that they are up-to-date. This step provides a clear picture of the property's financial obligations and avoids potential issues with unpaid taxes or lapsed insurance coverage. 5. Verification of Payments towards the Principal Balance: Buyers can request an accounting of payments made by the seller towards the principal balance of the Contract for Deed. This information ensures that the seller is fulfilling their financial obligations and helps monitor the buyer's progress towards eventual ownership. Conclusion: In a Portland, Oregon real estate transaction involving a Contract for Deed, buyers can protect their interests by requesting various accounting from the seller. These requests serve to ensure financial transparency, identify any discrepancies or outstanding obligations, and allow buyers to make informed decisions. By understanding the types of buyer's requests available, buyers can navigate the Contract for Deed process with confidence.
