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Owner Finance Contract
"Need an Owner Finance Contract for a commercial property in Singapore valued at $2.5M, with a 20% down payment and monthly installments over 15 years, including early repayment options and specific maintenance requirements, to be completed by March 2025."
1. Parties: Identification of seller (owner-financier) and buyer
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the contract
4. Purchase Price and Payment Terms: Total amount, down payment, installment structure
5. Interest Rate and Calculations: Interest rate, computation method, payment schedule
6. Security Provisions: Liens, mortgages, or other security interests
7. Default and Remedies: Consequences of default and available remedies
8. Transfer of Title: Conditions for property title transfer
1. Insurance Requirements: Property insurance obligations for protecting the financed property
2. Property Maintenance: Maintenance responsibilities and obligations during the financing period
3. Early Payment Provisions: Terms and conditions for early repayment or prepayment of the loan
4. Assignment Rights: Terms governing the transfer or assignment of contract rights to third parties
1. Property Description Schedule: Detailed description of the property including location and specifications
2. Payment Schedule: Detailed payment timeline including principal and interest breakdowns
3. Property Title Documents: Copies of relevant property ownership documents
4. Property Inspection Report: Current condition of property and inspection findings
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