STG Affidavit - Seller Financed Transaction

Affidavit regarding Seller Financed Transaction

 

State of _________________

County of _______________

 

BEFORE ME, this undersigned authority, on this day personally appeared ____________________________, Affiant(s), being by me first duly sworn upon his/her oath, did depose and say:

1)    I am the seller(s) of the property, (“Property”) described as follows:

2)    I give this affidavit to induce Stewart Title Guaranty (“Stewart”) to issue title insurance and its agent (“Agent”) to perform escrow services in regard to the transaction referenced under Agent’s File Number ________________________.  I understand that Stewart and Agent are relying upon the this affidavit to provide title insurance.

3)    As part of the sale of the Property, I am providing financing, (“Financing”) to the buyer(s).

□I have not financed the sale of more than five (5) properties in the past twelve months.

□I have financed the sale of more than 5 properties in the past twelve months.

4)    I have not constructed or acted as a contractor for the construction of a residence on the Property. _______(Initial)

5)    The repayment schedule under the Financing does not result in negative amortization. _______(Initial)

6)    The Financing has either a fixed rate of interest or an adjustable rate of interest that is adjustable after five years or more and is subject to reasonable annual and lifetime limitations on interest rate increases. _______(Initial)

7)    I am in compliance with the TILA-RESPA Integrated Disclosure rule (“TRID”). _______(Initial)

8)    I have been advised to seek the counsel of an attorney to review the terms of the financing and my responsibilities under both state and federal law, including, but not limited to the requirement that I obtain a waiver from the Washington State Department of Financial Institutions under RCW 31.04.025(3). _______(Initial)

Affiant(s) hereby agree(s) to indemnify and hold harmless Company from any loss, liability, costs, expenses and attorneys' fee, including attorneys' fees to enforce this agreement, because of any errors or incorrectness of this affidavit.

Date:_____________________

__________________________ (Affiant)

__________________________ (Affiant)

THE STATE OF _________________§

COUNTY OF ___________________§

SWORN TO AND SUBSCRIBED BEFORE ME by __________________________ and ____________________________________, on this _____ day of _______________, 20__, to which witness my hand and seal of office.

_________________________________

Notary Public, State of __________

_________________________________

Printed Name of Notary

My Commission Expires: ____________

 

                                                                                                ______________________________

                                                                                                Notary Public for Washington

                                                                                                My Commission Expires:  _________

                                                                                                Residing:______________________

No guidelines are available for this form at this time.