Seller or Private Financing Clause Samples
The 'Seller or Private Financing' clause outlines the terms under which the seller or a private party, rather than a traditional lender, provides financing to the buyer for the purchase of the property or asset. This clause typically details the interest rate, repayment schedule, and any security interests or collateral involved, and may specify conditions under which the financing is offered, such as the buyer's creditworthiness or a required down payment. Its core practical function is to facilitate transactions when conventional financing is unavailable or undesirable, thereby expanding the buyer's options and potentially making the sale more attractive or feasible.
Seller or Private Financing. 153 WARNING: Unless the transaction is exempt, federal and state laws impose licensing, other requirements and restrictions on 154 sellers and private financiers. Contract provisions on financing and financing documents, unless exempt, should be prepared by a 155 licensed Colorado attorney or licensed mortgage loan originator. Brokers should not prepare or advise the parties on the specifics 156 of financing, including whether or not a party is exempt from the law.
Seller or Private Financing. Buyer agrees to execute a promissory note payable to , 145 as Joint Tenants Tenants In Common Other , on the note form as indicated: 146 (Default Rate) NTD81-10-06 Other secured by a 147 (1st, 2nd, etc.) deed of trust encumbering the Property, using the form as indicated: 148 Due on Transfer – Strict (TD72-8-10) Due on Transfer – Creditworthy (TD73-8-10) Assumable – Not Due on 149 Transfer (TD74-8-10) Other . 150 The promissory note shall be amortized on the basis of 151 per including principal and interest at the rate of % per annum. Payments shall commence 152 and shall be due on the day of each succeeding . If not sooner 153 paid, the balance of principal and accrued interest shall be due and payable after Closing. 154 Payments Shall Shall Not be increased by of estimated annual real estate taxes, and Shall Shall 155 Not be increased by of estimated annual property insurance premium. The loan shall also contain the following
(1) if any payment is not received within days after its due date, a late charge of % of such payment 157 shall be due; (2) interest on lender disbursements under the deed of trust shall be % per annum; (3) default interest rate
Seller or Private Financing. Buyer agrees to execute a promissory note payable to ______________________- as 1/28 Joint Tenants____________ 1/28 Tenants in Common __________1/28 Other____________________________________, on the note form as indicated: 1/28 (UCCC - No Default Rate) NTD 82-3-95 1/28 (Default Rate) NTD 81-11-83 1/28 Other_____________secured by a _________(1st, 2nd, etc.) deed of trust encumbering the Property, using the form as indicated: 1/28 Strict Due on Sale (TD 72-7-96) 1/28 Credit worthy (TD 73-7-96) 1/28 Assumable ___________ Not Due on Sale (TD 74-7-96) 1/28 Other__________________ Buyer 1/28 Shall 1/28 Shall Not execute and deliver, at Closing, a Security Agreement and UCC-1 Financing Statement granting the holder of the promissory note a _____________(1st, 2nd etc.) lien on the personal property included in this sale. The promissory note shall be amortized on the basis of __________ 1/28 years ________1/28 months, principal and accrued interest shall be due and payable ______ after Closing. Payments 1/28 Shall 1/28 Shall Not be increased by 1/12 of estimated annual real estate taxes, and 1/28 Shall_______1/28 Shall Not___be increased by 1/12 of estimated annual property insurance premium. The loan shall also contain the following terms: if any payment is not received within _______ calendar days after its due date, a late charge of ________% of such monthly payment shall be due. Interest on lender disbursements under the deed of trust shall be ______% per annum. Default interest rate shall be _______% per annum. Buyer may prepay without a penalty except ______________________. Buyer 1/28 Shall ___1/28Shall Not provide a mortgagee's title insurance policy, at Buyer's expense.
Seller or Private Financing. Buyer agrees to execute a promissory note payable to , on the note form as
Seller or Private Financing. ▇▇▇▇▇ agrees to execute a promissory note payable to:(53) 97 , as (54) G Joint Tenants G Tenants in Common G Other , on the note form as indicated: 98 99 100
Seller or Private Financing. ▇▇▇▇▇ agrees to execute a promissory note payable to , as 179 □ Joint Tenants □ Tenants In Common □ Other , on the 180 note form as indicated: 181 □ (Default Rate) NTD81-10-06 □ Other secured by a 182 (1st , 2nd , etc.) deed of trust encumbering the Property, using the form as indicated: 183 □ Due on Transfer – Strict (TD72-9-08) □ Due on Transfer – Creditworthy (TD73-9-08) □ Assumable – Not Due on Transfer (TD74-9-08) 184 □ Other . 185 The promissory note shall be amortized on the basis of □ Years □ Months, payable at $ per 186 including principal and interest at the rate of % per annum. Payments shall commence 187 and shall be due on the day of each succeeding . If not sooner paid, 188 the balance of principal and accrued interest shall be due and payable after Closing. Payments □ Shall 189 □ Shall Not be increased by of estimated annual real estate taxes, and □ Shall □ Shall Not be increased by
(1) if any payment is not 191 received within days after its due date, a late charge of % of such payment shall be due; (2) interest on lender disbursements
Seller or Private Financing. ▇▇▇▇▇ agrees to execute a promissory note payable to , as 131 132 note form as indicated: 133 134 (1st, 2nd, etc.) deed of trust encumbering the Property, using the form as indicated: 135 Due on Transfer – Strict (TD72-9-08) Due on Transfer – Creditworthy (TD73-9-08) Assumable – Not Due on Transfer (TD74-9-
Seller or Private Financing. Intentionally deleted.
Seller or Private Financing. Buyer agrees to execute a promissory note payable to: Joint Tenants Tenants in Common Other secured by a (lst, 2nd, etc.) deed of trust encumbering the Strict Due-On-Sale (TD 72-7-96) Creditworthy (TD 73-7-96) Assumable - Not Due On Sale (TD 74-7-96) Other Shall Shall Not execute and deliver, at Closing, a Security Agreement and UCC-1 Financing Shall Shall Not be increased by Shall Shall Not be increased by 1/12 of estimated annual property
Seller or Private Financing. Buyer agrees to execute a promissory note payable to , 142 as o Joint Tenants o Tenants In Common o Other , on the note form as indicated: 143 o (Default Rate) NTD81-10-06 o Other secured by a 144 (1st, 2nd, etc) deed of trust encumbering the Property, using the form as indicated: 145 o Due on Transfer - Strict (TD72-8-10) o Due on Transfer - Creditworthy (TD73-8- J 0) o Assumable - Not Due on 146 Transfer (TD74-8-10) o Other . 147 The promissory note shall be amortized on the basis of o Years o Months, payable at $ 148 per including principal and interest at the rate of % per annum. Payments shall commence 149 and shall be due on the day of each succeeding . If not sooner 150 paid, the balance of principal and accrued interest shall be due and payable after Closing. 151 Payments o Shall o Shall Not be increased by of estimated annual real estate taxes, and o Shall o Shall 152 Not be increased by of estimated annual property insurance premium. The loan shall also contain the following
(1) if any payment is not received within days after its due date, a late charge of % of such payment 154 shall be due; (2) interest on lender disbursements under the deed of trust shall be % per annum; (3) default interest rate