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10 September, 06:42

The sellers have accepted an offer in which they agreed to carry a second trust deed. What contract should be provided to the seller to be sure all the required information is available to them to enter into this type of agreement?

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  1. 10 September, 06:48
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    The correct answer is Seller Financing Addendum and Disclosure Statement.

    Explanation:

    Seller financing can replace or supplement loans from a traditional lender. You may be offered financing from the seller when you do not meet the requirements for a bank loan for the total amount, or when you assume a portion of a previous mortgage, taken by the seller and need a loan for the rest. Be sure to let the lender know if you are receiving financing from the seller or other.

    For its part, the Disclosure Statement is a document that provides a profile of the corporation, financial information and a summary of the proposed Reorganization Plan. This information is useful for creditors to decide whether to accept or reject the Reorganization Plan.
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Home » Business » The sellers have accepted an offer in which they agreed to carry a second trust deed. What contract should be provided to the seller to be sure all the required information is available to them to enter into this type of agreement?
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