i am planning to sell my new townhouse (1 unit of 4 units). The property is semi furnished (cabnets, lights and fans included). The plan is to ask for the potential buyer to pay 10% of the value of the property and the remaining to be paid in 10 years.
Can I put on the agreement the following:
1. the property is still under my name until the property is fully paid.
2. if the monthly rent was not paid for more than 2 months, the contract is void and the 10% that was paid cannot be refunded anymore and will have to vacate the property within 2 weeks.
3. payments to be done every end of the month by depositing the payment to my bank account.
please advice if I am not violating any laws here and if I can add some more in the aggreement that will be great.