The Owner Finance Purchase Agreement is utilized when traditional mortgage financing is not the preferred or available option for property purchase. This document, governed by English and Welsh law, provides a comprehensive framework for seller-financed property transactions. It includes essential elements such as property details, purchase price, payment terms, security provisions, and default remedies. The agreement must comply with various UK regulations, including the Consumer Credit Act 1974 and Financial Services and Markets Act 2000, particularly regarding consumer protection and credit arrangements. It's commonly used in situations where buyers may not qualify for traditional mortgages or when sellers prefer to earn interest income through direct financing.
Create a bespoke document in minutes, or upload and review your own.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Get your first 2 documents free
Your data doesn't train Genie's AI
You keep IP ownership of your information
Key Requirements PROMPT example:
Owner Finance Purchase Agreement
"I need an Owner Finance Purchase Agreement for selling my commercial property in Manchester for £450,000, with a 15% down payment and monthly instalments over 20 years at 5.5% interest, completion planned for March 2025."
1. Parties: Identifies and defines the seller/owner and purchaser
2. Background: Sets out the context of the agreement and basic transaction structure
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold
5. Purchase Price: States the total purchase price and payment structure
6. Payment Terms: Details of down payment, installments, interest rates, and payment schedule
7. Security Provisions: Details of any security interests or liens
8. Default Provisions: Consequences of default and remedies
9. Transfer of Title: Conditions and process for transferring property title
1. Insurance Requirements: Property insurance obligations - include when requiring specific insurance coverage
2. Property Maintenance: Maintenance obligations during financing period - include when specific maintenance standards are required
3. Early Payment Provisions: Terms for early payoff or prepayment - include if early payment options are offered
4. Transfer Restrictions: Limitations on property transfer during financing period - include when transfer restrictions are desired
1. Property Description Schedule: Detailed legal description of property
2. Payment Schedule: Detailed amortization schedule
3. Property Condition Report: Documentation of property condition at sale
4. Title Documents: Copies of relevant title documents
5. Insurance Certificates: Copies of required insurance documentation
Authors
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
Find the exact document you need
Single Option Agreement
An England & Wales legal document granting exclusive rights for future transactions under specified conditions.
find out more
Simple Stock Option Agreement
An England & Wales agreement granting rights to purchase company shares under specified conditions.
find out more
Simple Right Of First Refusal Agreement
An England & Wales agreement granting priority purchase rights for future asset, share, or property transactions.
find out more
Repurchase Option Agreement
An England & Wales agreement outlining terms for future asset reacquisition in commercial transactions.
find out more
Purchase Agreement With Payment Plan
An England & Wales legal document outlining scheduled payments for goods or services under consumer protection laws.
find out more
Non Exclusive Option Agreement
An England & Wales legal document outlining non-exclusive future rights for commercial transactions and licensing opportunities.
find out more
Mobile Home Lease To Own Contract
An England & Wales contract facilitating gradual mobile home ownership through lease payments and compliance with relevant laws.
find out more
Master Leasing Agreement
An England & Wales legal framework for multiple equipment leases, standardizing terms and reducing negotiation time.
find out more
Master Lease With Option To Purchase
An England & Wales legal document combining lease terms with a future property purchase option.
find out more
Licence Option Agreement
An England & Wales agreement allowing evaluation of IP before committing to a full licensing agreement.
find out more
Lease To Own Mortgage
An England & Wales agreement outlining a lease-to-own pathway, combining rental payments with a future purchase option.
find out more
Lease To Own Land Agreement
An England & Wales agreement outlining a lease-to-own property arrangement with detailed purchase and payment terms.
find out more
Lease To Own Business Contract
An England & Wales contract facilitating business transfer via lease, leading to eventual ownership.
find out more
Lease To Buy Option Homes
An England & Wales agreement outlining terms for leasing with an option to purchase residential property.
find out more
Lease And Purchase Agreement
An England & Wales contract combining property lease with future purchase terms for flexible occupancy and ownership.
find out more
Land Lease Purchase Agreement
An England & Wales agreement allowing tenants to lease with an option to purchase property later.
find out more
Land Buying Agreement
An England & Wales contract outlining terms for land or property ownership transfer between parties.
find out more
Flex Option Agreement
An England & Wales document authorizing disclosure of medical information for specified purposes and durations.
find out more
Flat Buying Agreement
An England & Wales legal document granting production rights and permissions from performers for content use.
find out more
Equipment Lease Agreement With Option To Purchase
An England & Wales legal document relinquishing rights or claims, resolving disputes, and clarifying title uncertainties.
find out more
Cooperative Lease Option
An England & Wales legal document releasing land from outdated restrictive covenants for development purposes.
find out more
Contract For Lease To Own
An England & Wales legal document settling claims and establishing future obligations between parties.
find out more
Company Equity Share Agreement
An England & Wales legal document outlining terms and liabilities for equipment rental transactions.
find out more
Cash Payment Agreement
An England & Wales legal document allocating construction project risk and liability among involved parties.
find out more
Business Lease Purchase Agreement
An England & Wales agreement outlining ongoing customer relationship management and compliance with legal and regulatory standards.
find out more
First Option To Buy Agreement
An English law agreement granting exclusive rights to purchase specified property at agreed terms within a defined period.
find out more
Assignable Option Agreement
A contract under English and Welsh law granting transferable rights to engage in a future transaction on predetermined terms.
find out more
Truck Lease To Own Agreement
An English and Welsh law agreement establishing terms for leasing a truck with eventual ownership transfer upon completion of specified payments.
find out more
Owner Finance Purchase Agreement
A legal agreement under English and Welsh law where the property seller provides direct financing to the buyer, outlining sale terms and payment arrangements.
find out more
Short Term Investment Agreement
A legally binding agreement under English and Welsh law governing short-term capital investments, including terms, conditions, and regulatory compliance.
find out more
Seller Financing Purchase Agreement
An English law agreement where the seller finances the buyer's purchase, including payment terms and security arrangements.
find out more
Option To Purchase Business Agreement
A contract governed by English and Welsh law granting the right to purchase a business at agreed terms within a specified period.
find out more
Commercial Lease With Option To Purchase
An English and Welsh law agreement combining a commercial property lease with an option for the tenant to purchase the property under specified terms.
find out more
Outright Purchase Agreement
A contract governed by English and Welsh law for the complete transfer of ownership of goods or assets from seller to buyer.
find out more
Land Option Contract
An English law agreement granting the right to purchase specified land within a set period at a predetermined price.
find out more
Right Of First Refusal Agreement
An English law agreement granting one party the right to enter into a specified transaction before third parties may be offered the same opportunity.
find out more
Option To Buy Contract
A legal agreement under English and Welsh law granting the right to purchase specified property at agreed terms within a set timeframe.
find out more
Download our whitepaper on the future of AI in Legal
By providing your email address you are consenting to our Privacy Notice.
³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
Our bank-grade security infrastructure undergoes regular external audits
We are ISO27001 certified, so your data is secure
Organizational security
You retain IP ownership of your documents
You have full control over your data and who gets to see it
Innovation in privacy:
Genie partnered with the Computational Privacy Department at Imperial College London
Together, we ran a £1 million research project on privacy and anonymity in legal contracts
Want to know more?
Visit our for more details and real-time security updates.
Read our Privacy Policy.
