Get Real Property Form No. 6 Financing Addendum For Contract For ... - Www2 Mnbar

The Real Property Form No. 6 Financing Addendum is an essential document for outlining the financing details between a seller and buyer under a contract for deed. This guide provides clear, step-by-step instructions to help you fill out the form accurately and efficiently, ensuring all necessary information is included.

Follow the steps to complete the Financing Addendum effectively.

1. Press the 'Get Form' button to access the Financing Addendum. This will allow you to open the document in the editing tool.
2. Begin by reviewing the introductory section of the addendum. Fill in the date of the Purchase Agreement and the names of both the seller and the buyer.
3. In Section A, select the type of contract you are utilizing by checking the appropriate box for 'Contract for Deed' or 'Contract for Deed with Assumption of Financing.' If the assumption applies, ensure to attach the Assumption Addendum.
4. Complete Section B, entering the purchase price and detailing the payment terms, including monthly payment amounts and interest rates. Specify the method for calculating interest and indicate when the first payment is due.
5. If applicable, fill out Section C regarding existing mortgages or contracts for deed not assumed by the buyer. Ensure you detail the lender's requirements and the obligations of the seller regarding those existing contracts.
6. Review Section D for the credit approval contingency. Ensure the buyer understands they must provide required financial documents to the seller within ten days of the agreement date.
7. If important to the transaction, complete Section E regarding the sale of the seller's interest in the contract for deed, including any contingencies that must be met.
8. In Section F, include any additional optional terms, specifying responsibilities for taxes and insurance, restrictions on transfer or encumbrance, and any conditions concerning labor and materials related to the property.
9. Finally, confirm that all parties have signed and dated the document correctly, capturing the necessary agreements between the buyer and seller.
10. Upon completion, review your entries for accuracy, then save your changes, and choose to download, print, or share the form as needed.

Complete your documents online to streamline your property transaction process.