: Include a breakdown showing how much of each payment goes toward interest versus principal.
: Specify who is responsible for maintenance and whether the property is being sold "as is".
: Clearly state who is responsible for property taxes and homeowners insurance.
: If you miss a single payment, you may lose the property and all previous payments (depending on state law).
: Full legal names and contact details for both the buyer and the seller.
: Disclosure of any existing mortgages or limitations on the property. Critical Steps for Buyers