CONTRACT

SIGNING THE CONTRACT WITH INTENT TO SELL 

Once you’ve received your CASH OFFER from our company, you have the choice to sell your home and partner with us, by signing our Standard Purchase and Sale Agreement. You can also do nothing with the CASH OFFER. You are under NO obligation to partner with us. If you do decided to move forward and sign our document, the 4 page contract is available for your review before signing. 

THE CONTRACT: The agreement expresses YOUR intention to sell your home and OUR intention to either buy or assign your home to another investor, the END BUYER/INVESTOR who will provide all the cash to pay for your cash closing. The contract also determines the amount of EARNEST MONEY our company will pay to begin the ESCROW PROCESS, the DUE DILIGENCE calendared time period and the CLOSING DATE. 

Although all these elements (the bold words in the above paragraph) are included in the  contract, you (the Homeowner) and our company (the foreseeable Buyer) can renegotiate  the home’s PURCHASE PRICE, DUE DILIGENCE PERIOD and/or the CLOSING DATE, if  there are legitimate reasons to do so. All requests for changes and concluding agreements  must be recorded in written form. Written requests and changes will be included  addendums  to the contract in escrow, and will be given to the Title Company in a reasonable amount of  time (24-72 hours) from said changes and agreements.

As referenced in prior paragraphs, once the Standard Purchase and Sale Agreement is signed, our investor will deliver the contract to a Title Company and put the home in escrow, hand-delivering the contract to the title company with a check for the agreed-upon earnest money amount from our company. The earnest money is our way of saying, “WE’RE GOING TO DO ALL IN OUR POWER TO SELL YOUR HOME BY THE DUE DILIGENCE DEADLINE”. 

Although the deadline can be changed, we are going to do all we can to fulfill our side of the agreement by the initial date selected. The Standard Purchase and Sale Agreement allows for a 10-20 day DUE DILIGENCE period, which is when our company or another investor orders an inspection and appraisal on your home. If the inspection or appraisal reports have significant, costly repairs that were not found during our preliminary walkthrough, our company has the right to cancel the contract. 

The inspections and appraisal (paid for by the END Buyer/INVESTOR) may come back without new repair issues or costs, but we or another investor may still choose not to buy your home (likely because your home may be located in a rough area of town, or on the outskirts of a town/city in an unpredictable rental market, etc.) If our company chooses NOT to purchase your home, and we cannot find another investor who wants to purchase your home with cash, you (the Seller) can choose to move to the next strategy, MARKET LISTING. 

A Market Listing may entice other investors from outside our network, or a non-investor who will likely be unable to offer a CASH CLOSING. If a non-investor wants to purchase your home, then our DUE DILIGENCE time period and CLOSING DATE may need to be adjusted to fit the new buyer’s needs. All changes will be recorded in written form and be included as addendums to our contract in escrow.

WHY DO YOU NEED TO SIGN A CONTRACT BEFORE INSPECTIONS AND APPRAISALS ARE ORDERED, OR BEFORE A MARKET LISTING IS MADE?

We won't start spending money on selling your home until we know you're committed to selling. As soon as you commit to selling and sign the Standard Purchase and Sale Agreement, we move into action--and dollars start flying (on our end). We take the contract and an Earnest Money Deposit (EMD) to the Title Company, which opens ESCROW. Then, during the short DUE DILIGENCE period, the END BUYER/INVESTOR orders an inspection and appraisal (which can both cost between $200-$600!). A MARKET LISTING can cost us upwards of $500 to list your home. So, for understandable reasons, we don't want to spend our money unless you're committed to selling your home...thus the contract.