Down payment agreement Property Template - Word/PDF/Excel

Down payment agreement for property purchase - Document template

Product description

Buying a property is one of the biggest investments you can make in life, and having the right documentation in place is essential to ensure a smooth and legally binding transaction. Our down payment agreement template is designed to meet all legal requirements and ease the process for both buyers and sellers. This template is available for immediate download in Word, PDF and Excel formats, making it flexible and easy to use.

What is a Down Payment Agreement?

A down payment agreement acts as a preliminary security for both buyer and seller before the actual purchase agreement is signed. It ensures that both parties are serious about their intentions to complete the purchase. The deposit is usually 10% of the purchase price and is paid in advance. This amount serves as a guarantee that the seller will not sell the property to someone else and that the buyer will complete the purchase.

Features and Benefits

• Legally Correct: The template is designed to meet all requirements according to Swedish legislation, including the Contracts Act (1915:218) and the Land Code (1970:994).
• Flexible Use: Available in Word, PDF and Excel formats to meet your needs and preferences.
• Immediate Access: Download and use the template immediately after purchase.
• Cost-effective: A one-time cost that saves time and money compared to hiring a lawyer.
• Easy Customization: Easy to fill out and customize to your specific needs.

Content of the Template

1. Parties: Names, social security numbers and addresses for both seller and buyer.
2. Property: Full address and property designation.
3. Down payment: Amount and terms of payment.
4. Terms: Refund terms and rules for damages.
5. Signatures: Date, place and signatures of both parties.

Common questions

What happens if the buyer has regrets?
If the buyer regrets and does not want to complete the purchase, they must reimburse the seller for any damages incurred, such as brokerage and advertising costs. The deposit can then be used to cover these costs.

What happens if the seller changes his mind?
If the seller changes their mind, they must return the entire down payment to the buyer. It may be wise to include a clause in the contract that stipulates that the seller must also compensate the buyer for any damages if the seller withdraws.

Is the deposit the same as the cash deposit?
No, the down payment is a partial payment that acts as security, while the cash deposit is the part of the purchase price that cannot be financed with a loan. The cash investment is at least 15% of the home's price, which means that the down payment of 10% is usually covered by this investment.

Tips for Use

• Make sure all details are correct: Double-check all information before signing the contract.
• Consult a lawyer if necessary: ​​Even if the template is legally correct, it may be useful to have the agreement reviewed by a lawyer.
• Use the template as part of an overall solution: Combine the down payment agreement with a purchase agreement to ensure that all aspects of the property purchase are covered.

Relevant Laws

• The Contracts Act (1915:218): The basic law for contracts in Sweden.
• The Land Code (1970:994): Regulates the purchase and sale of immovable property.
• The Consumer Credit Act (2010:1846): Stipulates rules for cash investment when purchasing housing.
• Practice and Legal Doctrine: Guidelines and jurisprudence that supplement the laws.