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.
A Seattle Washington Buyer's Request for Accounting from Seller under Contract for Deed is a formal document submitted by a buyer to the seller of a property that is being purchased through a contract for deed. This request seeks detailed accounting of various financial aspects related to the property and the transaction. Keywords: 1. Seattle Washington: This indicates that the request is specific to the city of Seattle, Washington, where the property is located. It highlights the jurisdiction and legal requirements that may be unique to the area. 2. Buyer's Request: This term signifies that the document is initiated by the buyer, who is seeking information and clarification from the seller. It implies that the buyer has specific concerns or questions regarding the financial aspects of the transaction. 3. Accounting from Seller: The buyer is requesting accounting, which involves a detailed breakdown and report of financial transactions associated with the property and the contract for deed. This may include information such as purchase price, down payment, installment payments, interest rates, escrow accounts, and any other relevant financial agreements. 4. Contract for Deed: This indicates the type of transaction involved in the purchase. A contract for deed, also known as a land contract or installment sale agreement, is a financing option where the seller acts as the lender. The buyer makes periodic payments to the seller until the full purchase price is paid, instead of obtaining traditional mortgage financing. Different types: 1. Initial Accounting: This is the first request for accounting and typically occurs before the buyer finalizes the purchase. The buyer seeks a comprehensive breakdown of all financial terms and agreements mentioned in the contract for deed. 2. Annual Accounting: This type of request is made on an annual basis or at specified intervals after the initial accounting. It ensures transparency and allows the buyer to review the ongoing financial aspects of the contract. 3. Final Accounting: This request is placed when the buyer has completed all the payment obligations as per the contract for deed. The buyer seeks a final and detailed report to confirm that all financial obligations have been met and that the property is ready to be transferred into their name. Overall, a Seattle Washington Buyer's Request for Accounting from Seller under Contract for Deed is a formal communication tool used by buyers to obtain detailed financial information regarding a property being purchased through a contract for deed arrangement in the city of Seattle.
