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How to use or fill out OWNER FINANCE TERMS with our platform
- 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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