Purchase Agreement for Mortgage | USA

Prepare a Joint Venture Agreement for a venture being set up to purchase a mortgage using this digital template for the USA.

• The parties are jointly purchasing a promissory note secured by a mortgage or deed of trust.
• Each party shall contribute a specified amount of capital, and make additional contributions as required.
• Each party is entitled to revenues in proportion to their respective interests.
• Decisions require the approval of all venturers.
• The joint venture will not maintain a bank account in its own name, but will use a mortgage servicing company to collect payments and make distributions.
• The parties appoint an attorney in fact to effect the purchase of a suitable mortgage.
• Available in MS Word format.
• Intended to be used only in the United States.

Mortgage lenders, sell your interest in a Deed of Trust and underlying promissory note with this template Purchase Agreement.

• The buyer is purchasing the interest without recourse.
• The seller is entitled to keep any payments received under the Deed of Trust until the agreement becomes effective. These payments will be deducted from the purchase price.
• The agreement is conditioned upon the buyer obtaining adequate financing to complete the purchase.
• If the seller does not go through with the deal, the seller must pay a cancellation fee as well as the buyer's costs.
• The seller indemnifies the buyer against any liability or expense arising from any inaccuracy or breach of any warranty or representation.
• The parties acknowledge that the buyer has no fiduciary obligation to the seller and is acting as an independent investor.
• The Agreement can be used throughout the United States.

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