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Owner Financed Sales Contract
"I need an Owner Financed Sales Contract for a residential property in Vienna, with a 30% down payment and the remaining balance to be paid over 15 years at 4% interest, including early repayment options and monthly payment schedules to commence March 2025."
1. Parties: Identification of the seller (owner-financier) and buyer, including full legal names, addresses, and registration details if applicable
2. Background: Context of the transaction, including brief property description and parties' intention to enter into owner-financing arrangement
3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Loan Amount, Interest Rate, etc.
4. Property Description: Detailed legal description of the property, including land register details and any included fixtures or exclusions
5. Purchase Price and Financing Terms: Total purchase price, down payment, loan amount, interest rate, payment schedule, and amortization details
6. Payment Terms: Specific details about payment methods, due dates, late payment consequences, and prepayment options
7. Security Arrangements: Details of property mortgage, liens, or other security interests to secure the financing
8. Transfer of Ownership: Conditions and process for transferring property title, including registration requirements
9. Representations and Warranties: Statements by both parties regarding their capacity, property condition, and other material facts
10. Rights and Obligations: Ongoing responsibilities of both parties during the financing period
11. Default and Remedies: Consequences of default, cure periods, and available remedies
12. Closing Conditions: Requirements to be met before closing, including documents and payments
13. Costs and Taxes: Allocation of transaction costs, taxes, and ongoing expenses
14. Governing Law: Confirmation of Austrian law governance and jurisdiction
15. Notices: Method and addresses for formal communications between parties
16. General Provisions: Standard legal provisions including severability, entire agreement, and amendments
1. Insurance Requirements: Used when specific insurance coverage is required during the financing period
2. Property Management: Include when there are specific requirements for property maintenance during the financing period
3. Third-Party Rights: Required when other parties have existing rights affecting the property
4. Early Repayment Terms: Include when early repayment options or penalties are applicable
5. Co-signer Provisions: Used when a guarantor or co-signer is involved in the transaction
6. Property Use Restrictions: Include when specific limitations on property use are required
7. Escrow Arrangements: Used when an escrow account is required for taxes or insurance
1. Property Details Schedule: Comprehensive property description, including plans and boundaries
2. Payment Schedule: Detailed amortization table showing payment breakdown
3. Property Condition Report: Documentation of property condition at time of sale
4. Title Documents: Copies of relevant land register extracts and title documents
5. Insurance Certificates: Copies of required insurance policies
6. Due Diligence Documents: Property inspection reports, permits, and certificates
7. Property Plans: Official floor plans and site maps
Authors
Real Estate
Financial Services
Legal Services
Construction
Property Development
Banking
Insurance
Professional Services
Residential Property
Commercial Property
Legal
Real Estate
Finance
Compliance
Risk Management
Property Management
Business Development
Investment
Asset Management
Transaction Management
Real Estate Manager
Property Developer
Legal Counsel
Contract Manager
Finance Director
Real Estate Agent
Property Manager
Compliance Officer
Risk Manager
Investment Manager
Asset Manager
Transaction Manager
Real Estate Attorney
Financial Controller
Business Development Manager
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