The Harris Texas Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage is a legal document used in real estate transactions in Harris County, Texas. It outlines the terms and conditions of purchasing a condominium unit with financing provided by the seller and subject to an existing mortgage on the property. This agreement allows the buyer to acquire a condominium unit without having to secure financing from a traditional lender. Keywords: Harris Texas Agreement, Purchase Condominium, Purchase Money Mortgage Financing, Seller, Subject to Existing Mortgage, Real Estate Transactions, Harris County, Condominium Unit, Financing, Traditional Lender. Different types of Harris Texas Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage may include: 1. Fixed Rate Purchase Money Mortgage Financing Agreement: This type of agreement specifies a fixed interest rate for the purchase money mortgage financing provided by the seller. 2. Adjustable Rate Purchase Money Mortgage Financing Agreement: This type of agreement allows for an adjustable interest rate on the purchase money mortgage financing provided by the seller, with periodic adjustments based on market conditions. 3. Assumption Purchase Money Mortgage Financing Agreement: In this agreement, the buyer assumes the existing mortgage on the property, and the seller provides additional financing to cover the remaining purchase price of the condominium unit. 4. Balloon Payment Purchase Money Mortgage Financing Agreement: This agreement involves the buyer paying off the purchase money mortgage financing by the seller with a large lump sum payment (balloon payment) at the end of a specified term.
Harris Texas Agreement to Purchase Condominium with Purchase Money Mortgage Financing by Seller, and Subject to Existing Mortgage
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