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Seller Financing Real Estate Contract Template for Denmark

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Key Requirements PROMPT example:

Seller Financing Real Estate Contract

Document background
The Seller Financing Real Estate Contract is utilized when traditional bank financing is either unavailable or undesirable, and the property seller is willing to act as the lender. This arrangement is particularly relevant in the Danish real estate market where alternative financing options may be beneficial for both parties. The document incorporates elements required by Danish property law, including specific provisions for property registration, transfer of ownership, and security interests. It covers both the sale aspects (property description, warranties, transfer conditions) and financing terms (interest rates, payment schedule, default provisions). This type of contract is especially useful in situations involving rapid property transfers, buyers with unique financing needs, or when sellers seek ongoing income through interest payments. The agreement must comply with Danish registration requirements, property transfer regulations, and consumer protection laws when applicable.
Suggested Sections

1. Parties: Identification of the Seller/Creditor and Buyer/Debtor with full legal names, addresses, and registration numbers if applicable

2. Background: Context of the transaction, including the seller's ownership of the property and the agreement to seller financing

3. Definitions: Key terms used throughout the agreement, including Property, Purchase Price, Loan Amount, Settlement Date, etc.

4. Property Description: Detailed description of the property including address, land registry details, cadastral number, and size

5. Purchase Price and Payment Terms: Total purchase price, down payment amount, and payment structure

6. Financing Terms: Loan amount, interest rate, repayment period, payment schedule, and calculation of payments

7. Security and Mortgage: Details of the seller's security interest in the property, including mortgage registration requirements

8. Transfer of Ownership: Conditions and process for transferring property title and registration requirements

9. Representations and Warranties: Statements by both parties regarding property condition, authority to enter agreement, etc.

10. Due Diligence: Buyer's investigation rights and seller's disclosure obligations

11. Default and Remedies: Consequences of default, cure periods, and available remedies

12. Costs and Expenses: Allocation of transaction costs, registration fees, and taxes

13. Governing Law and Jurisdiction: Confirmation of Danish law application and jurisdiction for disputes

14. Signatures: Execution blocks for all parties and witnesses if required

Optional Sections

1. Insurance Requirements: Used when specifying mandatory insurance coverage for the property

2. Property Maintenance: Include when setting specific requirements for property maintenance during the financing period

3. Prepayment Terms: Include when allowing early loan repayment with specific terms and conditions

4. Assignment and Transfer: Used when parties want to address the possibility of transferring rights under the agreement

5. Co-signer Provisions: Include when a third party is guaranteeing the buyer's obligations

6. Property Use Restrictions: Used when imposing specific restrictions on property use during the financing period

7. Escrow Arrangements: Include when using an escrow account for tax and insurance payments

8. Property Management: Used for commercial properties requiring specific management arrangements

Suggested Schedules

1. Property Description Schedule: Detailed technical description of the property, including maps and plans

2. Payment Schedule: Amortization table showing all payments, interest, and principal allocations

3. Property Condition Report: Detailed assessment of property condition at time of sale

4. Title Documentation: Copies of relevant title documents and registration certificates

5. Due Diligence Reports: Technical, environmental, and legal due diligence findings

6. Property Insurance Details: Specifications of required insurance coverage

7. Existing Encumbrances: List of any existing liens, easements, or other encumbrances

8. Transfer Documents: Forms and documents required for property registration transfer

Authors

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Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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