TERMS
OF SALE
The
properties for sale on this website are available on a “first
come – first served” basis. That means the first party
to make an offer conforming to our requirements will be able to enter
into
a contract with us for the purchase of the property at the offered price.
It is not our intent to use anyone’s offer to leverage it
against another person for a better price. It is our intent to
offer properties
for sale at below market prices to the first party that meets our terms.
This allows us to turn our funds faster and purchase additional
properties. All
of our properties are sold “as-is” and without
any warranties or representations unless otherwise agreed
to in writing and signed by
us as the Seller. Because our properties are usually acquired in
distress situations, many times we have not even had an opportunity to
inspect
a property before it is purchased and offered for resale on this site. Additionally,
we usually have no knowledge of the actual condition of the properties,
so it is necessary for you, as the Buyer, to conduct
all the necessary due diligence and inspections you may deem appropriate
in order to determine whether the property is in a condition that meets
your needs. We make no warranties or guarantees with respect
to any aspect of any property including, but not limited to: use,
lot size,
physical
characteristics or size, room counts, any structures on the property,
nor any representation or warranty as to the operating condition
of any component or appliance on the property. All
of our prices listed on this site are “net to the
Seller”. This
means that the price listed with each property is the amount we
are required to receive at the closing of any transaction except for
the usual and ordinary pro rations. If you desire title insurance,
warranties or specific improvements to the property, these will need
to be arranged
for at your own expense prior to closing. Any variation from
these terms must be in writing in the contract. All
contracts must contain the following standard terms: (1) All purchasers
must provide to the Seller proof of funds or a qualified loan commitment
for the purchase of the property within three days of the execution
of the contract; (2) All due diligence and inspections that the
Buyer deems
necessary must be completed no later than seven days after execution
of the contract; (3) Ten days after contract execution, all earnest
money received from the Buyer for the transaction becomes nonrefundable
to
the Seller; (4) All closings must occur within 21 days after
execution of the contract; (5) If a contract fails to close within
21 days, the closing date may be extended upon agreement of the
parties and a per diem charge for each day beyond 21 days. Unless
otherwise specified, the use of the word “days” shall
mean “calendar” days not “business” days
wherever the word appears in the contract. All
offers may be made by submitting to us via e-mail, fax, direct
mail or personal delivery on the form
provided on this website on the “Make
an Offer” page.
Alternatively, we will accept offers on the Idaho Association
of Realtors RE21 form. All of our required addendums will be
added to the RE21 form. Offers submitted on any other contract
or form may be rejected or result in a delay in their consideration
if they fail to conform to the requirements of this website.
Only after the seller accepts an offer and the earnest money
is paid and received, will an offer be considered binding.
|