Seller's disclosure of financing terms for residential property in connection with contract or agreement for deed a k a land contract 2026

1. Click ‘Get Form’ to open it in the editor.
2. Begin by entering the property address where indicated. This is essential for identifying the specific transaction.
3. Fill in the purchase price of the property in the designated field. Ensure this amount reflects the agreed-upon price between you and the purchaser.
4. Next, specify the interest rate charged under the contract. This should be clearly stated to avoid any confusion later.
5. Provide either the dollar amount of interest charged for the term of the contract or an estimate if it’s variable. This transparency helps buyers understand their financial obligations.
6. Indicate the total amount of principal and interest that will be paid under the contract. This figure is crucial for both parties' financial planning.
7. If applicable, state any late charges that may be assessed under the contract. Clear communication about penalties can prevent disputes.
8. Finally, confirm that no prepayment penalty will be charged if the purchaser pays off their obligation early. This can be an attractive feature for buyers.
9. Complete all signature fields at the bottom of the form, ensuring both seller and purchaser sign and print their names along with dates.

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