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Document Id : 5256
File Type : Microsoft Word
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Purchase Money Promissory Note for Real Estate Purchase
If you are selling a real estate property and allowing the buyer to pay part of the purchase price over time, secure payment of the outstanding balance with this Purchase Money Promissory Note for Real Estate Purchase.
- The buyer will pay off the balance of the purchase price in regular installments, rather than having to come up with all of the purchase money in order to close the sale.
- The Note contains an acceleration clause, meaning if the maker defaults in a payment, the entire balance together with interest becomes immediately due and payable.
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