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Seller Financing Contract
"I need a Seller Financing Contract for a commercial property in Auckland, where I'm providing 15-year financing with a 20% down payment and monthly installments starting March 2025, with special provisions for early repayment without penalties."
1. Parties: Identification of the Seller/Financier and the Buyer/Borrower with full legal names and addresses
2. Background: Context of the transaction, including property details and parties' intention to enter into a seller financing arrangement
3. Definitions: Key terms used throughout the agreement including Property, Settlement Date, Security Interest, etc.
4. Purchase Price and Financing Terms: Total purchase price, down payment, financed amount, interest rate, and term of financing
5. Payment Terms: Payment schedule, method of payment, and payment calculations
6. Security Interest: Details of the security interest in the property, including mortgage terms
7. Property Transfer: Conditions and process for transferring property title
8. Buyer's Covenants: Buyer's obligations including property maintenance, insurance, rates payment, etc.
9. Seller's Representations: Seller's warranties regarding property title, condition, and authority to sell
10. Default and Remedies: Events of default and consequent remedies available to parties
11. General Provisions: Standard contract clauses including notices, amendments, governing law, etc.
1. Early Repayment Provisions: Terms for early repayment including any penalties or benefits - include when early repayment is specifically negotiated
2. Property Management: Specific requirements for property maintenance and improvements - include for commercial properties or when significant maintenance is required
3. Insurance Requirements: Detailed insurance obligations beyond standard requirements - include for high-value or unique properties
4. Third Party Rights: Rights of other parties such as existing tenants - include when property has current occupants
5. Tax Provisions: Specific tax arrangements and obligations - include when complex tax implications exist
6. Dispute Resolution: Detailed dispute resolution procedures - include when parties want specific resolution mechanisms
1. Schedule 1: Property Details: Detailed description of the property including title details, boundaries, and improvements
2. Schedule 2: Payment Schedule: Detailed amortization schedule showing payment dates, amounts, and interest calculations
3. Schedule 3: Insurance Requirements: Specific insurance requirements including types, coverage amounts, and named insureds
4. Schedule 4: Property Condition Report: Detailed report on property condition at time of agreement
5. Appendix A: Property Title Documents: Copies of relevant title documents and encumbrances
6. Appendix B: Property Plans: Property plans, surveys, and relevant drawings
Authors
Business Day
Completion Date
Default Event
Default Interest Rate
Down Payment
Due Date
Encumbrance
Finance Amount
Finance Period
Interest Rate
Land
Legal Costs
Loan Balance
Monthly Payment
Mortgage
Payment Schedule
Permitted Use
Principal Sum
Property
Purchase Price
Rates
Registration Fee
Security Interest
Settlement Date
Term
Title
Transfer
Seller
Buyer
Valuation
Working Day
Property Description
Purchase Price
Financing Terms
Payment Obligations
Security Interest
Property Transfer
Title Warranties
Insurance Requirements
Default and Remedies
Property Maintenance
Assignment and Transfer
Force Majeure
Notices
Dispute Resolution
Governing Law
Amendment
Severability
Entire Agreement
Costs and Expenses
Tax Obligations
Registration
Representations and Warranties
Early Repayment
Default Interest
Property Access
Risk and Insurance
Further Assurance
Confidentiality
Survival of Terms
Real Estate
Financial Services
Property Development
Construction
Legal Services
Property Management
Insurance
Residential Property
Commercial Property
Agricultural Property
Legal
Real Estate
Finance
Risk Management
Compliance
Property Management
Commercial Operations
Business Development
Contract Administration
Property Lawyer
Real Estate Agent
Property Manager
Financial Advisor
Mortgage Broker
Property Developer
Legal Counsel
Conveyancing Lawyer
Contract Manager
Risk Manager
Commercial Director
Finance Manager
Property Investment Manager
Compliance Officer
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