Seller Finance (a) The Seller agrees to provide the Buyer and advance of xxxx ($xxxx) to enable the Buyer to complete this Contract.
(b) The parties agree that this advance will be secured by the Buyer providing to the Seller a first registered mortgage over the Property.
(c) The mortgage documents shall be in the form as prepared by the Seller's Solicitors at the expense of the Buyer and shall contain the terms and conditions set out in the Form 20 ‘ Schedule/Enlarged Panel/Additional Page/Document (S.154/Declaration, Version 1 as issued by AUSDOC Commercial & Law Stationers).
(d) The mortgage shall contain the following essential terms and conditions: -
(i) Principal: xxxx ($xxxx)
(ii) Date of Repayment: xxxx
(iii) Interest Rate: xxxx per cent per annum
(iv) Whether or not there is a penalty for early repayment
(e) The Buyer shall execute all documents prepared and delivered pursuant to this clause and do all other things necessary to give effect to this clause including the payment of all expenses involved in the preparation, stamping and registration of the mortgage.
Specialising in Queensland Property Conveyancing since 1996, John Horrocks has overseen more than 60,000 property settlements during his career. Together with his team of dedicated staff, Horrocks Solicitors operate at Queens Street Brisbane in the heart of the property banking precinct.
Brisbane Conveyancing Solicitor
Level 9, 371 Queen Street, Brisbane QLD 4000
PO Box 10445 Adelaide Street Brisbane QLD 4000
Aust: 07 3013 2300
Intl: +61 7 3013 2300
Faxs: +61 7 3013 2399
Queensland Residential Property Conveyancing
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