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Your offer must include: your legal name, the name of the seller and the address of the property. the amount you're offering to pay (the purchase price) and the amount of your deposit.

How do you calculate down payment? Down payment is calculated using the formula: down payment = down payment percent times purchase price. The down payment percent needs to be converted into a decimal for this calculation.

A Memorandum of Deposit of Title Deed (MODT) is a legal document that allows borrowers to deposit their property documents with the lender as collateral for a loan. This document serves as proof of ownership of the property and is used to secure the loan.