Updated April 24, 2022
A real estate downpayment receipt is a receipt for funds provided to a seller from a buyer as the first payment towards a piece of property. A downpayment is a percentage of the total sale price of the property in question and must be paid during the closing process. Most of the important information regarding the sale will be expressed in a purchase contract, but a downpayment receipt is a useful document for the buyer to keep for their records.
The receipt will show the date the downpayment was made, the downpayment amount (and the percentage it covers of the total sale price), buyer name and address, and seller name and address.
Purchase Agreement – Use when a buyer and seller agree to terms on the purchase of real estate.