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Click ‘Get Form’ to open the OWNER FINANCE TERMS document in the editor.
Begin by filling in the 'Property' section with the relevant property details. This is crucial for identifying the asset involved in the transaction.
Next, enter the 'Total Sales Price' and specify where the 'Note and Deed of Trust' will be escrowed. This ensures clarity on financial arrangements.
Complete the 'Down Payment' field, followed by detailing the 'First Mortgage Note Amount'. Indicate if you want to hold original documents or not.
Fill in payment details including 'Payment Amount', 'Payments Due', and specify if the interest rate is fixed or adjustable. Provide any necessary adjustments for an adjustable rate.
Address additional terms such as late payment fees, prepayment penalties, and tax payment proof requirements. Ensure all conditions are clearly stated.
Finally, have both seller and buyer sign and date at the bottom of the form to finalize your agreement.

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