Terms & Conditions of Property Enrollment
The name(s) listed under the field above entitled "Property Owner(s)" is/are hereinafter referred to as "Seller”. This enrollment request will be immediately assigned to one of the following Rent2ownMarket.com Licensed Companies hereinafter referred to as "Company": Infinite Business Systems, Inc.; Creative Realty Partners, LLC; Success Realty Solutions, LLC
By selecting the "I would like to ENROLL my property in the Seller Financing Program and...." option from above Seller hereby wishes to enter the property located at the address as shown under the field above entitled "Property Address" into the Seller Financing Program offered by Rent2ownMarket.com. Seller agrees to all terms and conditions found herein and as they may coincide with the information entered in certain fields within this form. Following are the terms desired by Seller:
Seller grants Company the option to purchase the property for a purchase price equal to the amount submitted under the field above entitled "Sales Price". This option to purchase is friendly in nature and allows both parties the right to market or co-market the property. To ensure Company has legal right to market, Company is considered by this agreement to be a principal by contract and may sell the property subject to the terms and conditions of this agreement. Prior to buyer placement, this option and agreement may be cancelled at any time by Seller wherein Seller agrees to first give Company 5 business days written notice, so that as a courtesy, Company may post notice to the potentially interested Sub-Buyers Company may be working with. Any pending cancellation will be reversed in the event Company receives an offer from an interested Sub-Buyer. Should Seller wish to co-market and successfully locates a Buyer or Tenant for the property by another means, the notice period may be reduced to3 business days.
Property may be sold through the Seller Financing Program.
The amount entered in the field above entitled "Monthly Payment" is the total Monthly Payment Amount required by Seller (includes reimbursement of any Home Owners Association Fees, Condo Fees, Ground Rent, Property Taxes and/or Insurance Amounts, as may exist, calculated monthly and the balance shall satisfy interest for the period).
Seller Agrees to promptly provide the current Monthly Calculated Home Owners Association Fees, Condo Fees, Ground Rent, Property Taxes and/or Insurance Allocation (for accounting purposes, Seller Agrees to update annually or at any time of change in amounts).
The number of years selected in the field above entitled "Maximum Length of Term" or other term if specified in the field above entitled "Comments" is the Maximum Length of Term Offered (payoff may occur anytime during the term and will be required no later than the end).
For the Seller Financing, Company will enter into a Contract for Deed agreement with Sub-Buyer with contingency subject to Seller’s acceptance of the Sub-Buyer’s application. Should Seller choose to reject based on application the Sub-Buyer agreement will be null and void and marketing shall continue unless this agreement is otherwise cancelled. Should Seller choose to accept the application, the Sub-Buyer agreement will be assigned directly to Seller subject to the following: Company shall remain the servicer of payments and Sub-Buyer relations. Seller understands that Company is an active investor for profit and does not charge any fees to the Seller. Instead, Company charges Sub-Buyer amounts over and above the amounts mentioned above in order to earn its necessary gain for overhead and profit and shall retain these amounts, whether collected or deferred, that may include any additional fees, any increases over the above-mentioned monthly payment and/or interest amounts and any increase over the above-mentioned Option purchase price to a higher Sub-Buyer Sale Price as any partial or full principal payment is received. When accepting assignment, Seller shall enter into a performance deed of trust that promises performance as outlined herein and sets the stage for the final closing to occur.
All attached personal property, appliances, attachments and fixtures shall be included in sale except as may be specified in the field above entitled "Comments".
The following items shall be prorated at final closing: Property Taxes & any applicable HOA &/or Condo fees.
Showing Arrangements & Non-Compete (if property is occupied):
It is understood that Seller may continue to occupy the property while it is being marketed and agrees to allow potential Sub-Buyers to gain access to the property by providing them scheduled supervised access within 24-48 hours of such requested access. Seller further agrees not to compete in any way with Company nor will Seller engage in any conversation with prospective Sub-Buyer(s) in regards to Company’s terms and conditions for it’s Sub-Buyer(s).
Company reserves the right to accept or decline any request for enrollment.
BY CLICKING SUBMIT THE PARTY OR PARTIES (INDIVIDUALLY IF MORE THAN ONE) LISTED IN THE FIELD ABOVE ENTITLED "Property Owner(s)" HEREBY AGREE(S) TO ALL THE TERMS AND CONDITIONS LISTED HEREIN.
