This is a Purchaser's Request of Accounting Statement from Seller. It is a request in writing to receive an accounting of the payments paid since the contract was made and a breakdown of any interest, fees, costs, taxes and insurance paid. It is also a request for the balance due on the contract.
Broken Arrow Oklahoma Buyer's Request for Accounting from Seller under Contract for Deed serves as a crucial document in real estate transactions. This request enables the buyer to seek detailed financial information from the seller, enhancing transparency and ensuring a fair deal. Below is a detailed description of what it entails, highlighting relevant keywords: 1. Purpose: The Buyer's Request for Accounting from Seller under Contract for Deed in Broken Arrow, Oklahoma aims to gather comprehensive financial information to assess the seller's current financial standing and obligations related to the property. 2. Relevant Keywords: a. Broken Arrow Oklahoma: This keyword establishes the location of the property, ensuring the request conforms to local laws and regulations specific to Broken Arrow, Oklahoma. b. Buyer's Request: Indicates that the initiative to gather financial information is undertaken by the buyer to ensure transparency in the transaction. c. Accounting: Signifies the need for detailed financial records, including income, expenses, taxes, loans, and outstanding obligations associated with the property. d. Seller under Contract for Deed: Refers to the specific type of selling arrangement where the seller acts as the lender, facilitating a lease-purchase agreement instead of traditional financing. 3. Types of Buyer's Request for Accounting from Seller under Contract for Deed: a. Financial statement: The buyer may request the seller to provide a comprehensive financial statement illustrating their income, assets, liabilities, and expenses. This allows the buyer to assess the seller's financial stability and ability to fulfill contractual obligations. b. Tax records: Buyers may require the seller's tax returns, ensuring compliance and confirming the accuracy of reported income and deductions. c. Loan information: If the seller has taken out loans against the property, buyers may request specific details such as loan documents, payment history, interest rates, and outstanding balances. d. Expense documentation: Requesting documentation related to property-related expenses, including utilities, maintenance costs, insurance premiums, and property taxes allows the buyer to estimate ongoing obligations and budget effectively. e. Delinquent payment records: In cases where the seller may have missed payments on outstanding loans or property-related expenses, buyers may seek detailed records to ascertain the extent of the issue and its impact on the property. By utilizing the Broken Arrow Oklahoma Buyer's Request for Accounting from Seller under Contract for Deed, buyers can ensure transparency in their transaction, minimize potential risks, and make informed decisions based on the received financial information.Broken Arrow Oklahoma Buyer's Request for Accounting from Seller under Contract for Deed serves as a crucial document in real estate transactions. This request enables the buyer to seek detailed financial information from the seller, enhancing transparency and ensuring a fair deal. Below is a detailed description of what it entails, highlighting relevant keywords: 1. Purpose: The Buyer's Request for Accounting from Seller under Contract for Deed in Broken Arrow, Oklahoma aims to gather comprehensive financial information to assess the seller's current financial standing and obligations related to the property. 2. Relevant Keywords: a. Broken Arrow Oklahoma: This keyword establishes the location of the property, ensuring the request conforms to local laws and regulations specific to Broken Arrow, Oklahoma. b. Buyer's Request: Indicates that the initiative to gather financial information is undertaken by the buyer to ensure transparency in the transaction. c. Accounting: Signifies the need for detailed financial records, including income, expenses, taxes, loans, and outstanding obligations associated with the property. d. Seller under Contract for Deed: Refers to the specific type of selling arrangement where the seller acts as the lender, facilitating a lease-purchase agreement instead of traditional financing. 3. Types of Buyer's Request for Accounting from Seller under Contract for Deed: a. Financial statement: The buyer may request the seller to provide a comprehensive financial statement illustrating their income, assets, liabilities, and expenses. This allows the buyer to assess the seller's financial stability and ability to fulfill contractual obligations. b. Tax records: Buyers may require the seller's tax returns, ensuring compliance and confirming the accuracy of reported income and deductions. c. Loan information: If the seller has taken out loans against the property, buyers may request specific details such as loan documents, payment history, interest rates, and outstanding balances. d. Expense documentation: Requesting documentation related to property-related expenses, including utilities, maintenance costs, insurance premiums, and property taxes allows the buyer to estimate ongoing obligations and budget effectively. e. Delinquent payment records: In cases where the seller may have missed payments on outstanding loans or property-related expenses, buyers may seek detailed records to ascertain the extent of the issue and its impact on the property. By utilizing the Broken Arrow Oklahoma Buyer's Request for Accounting from Seller under Contract for Deed, buyers can ensure transparency in their transaction, minimize potential risks, and make informed decisions based on the received financial information.
