Contra Costa California Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage: In Contra Costa County, California, an Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage refers to a legal document outlining the details and terms of a real estate transaction involving the purchase of a condominium unit. This type of agreement primarily revolves around the financing arrangement between the seller and the buyer, with the buyer obtaining a purchase money mortgage from the seller instead of a traditional mortgage lender. Keywords: Contra Costa County, California, Agreement to Purchase Condominium, Purchase Money Mortgage Financing, Seller, Subject to Existing Mortgage. Different Types of Contra Costa California Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage include: 1. Fixed-rate Agreement: This type of agreement involves a fixed interest rate on the purchase money mortgage provided by the seller. The terms and conditions remain the same throughout the loan period, ensuring a predictable payment schedule for the buyer. 2. Adjustable-rate Agreement: In this case, the agreement features an adjustable interest rate on the purchase money mortgage provided by the seller. The interest rate may vary periodically based on pre-determined market indexes, resulting in potential changes in the monthly payments. 3. Balloon Payment Agreement: This agreement structure includes regular mortgage payments for an initial period, typically shorter than the entire term of the loan. At the end of this period, a significant lump sum payment (balloon payment) is due, which must be paid by the buyer or refinanced with a traditional mortgage. 4. Assumable Agreement: Under this agreement, the buyer assumes the existing mortgage already held by the seller. The buyer takes over the remaining balance and payment terms of the mortgage, often without the need for additional financing. 5. Wraparound Agreement: This agreement involves the seller providing a new purchase money mortgage that wraps around the existing mortgage. The buyer makes payments to the seller, who, in turn, continues to make payments on the original mortgage. This type of agreement can provide additional financing options for buyers without fully satisfying the existing mortgage. Keywords: Fixed-rate Agreement, Adjustable-rate Agreement, Balloon Payment Agreement, Assumable Agreement, Wraparound Agreement, Purchase Money Mortgage Financing, Seller, Subject to Existing Mortgage, Contra Costa California.
Contra Costa California Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage
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How to fill out Contra Costa California Agreement To Purchase Condominium With Purchase Money Mortgage Financing By Seller, And Subject To Existing Mortgage?
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