• Information
  • Dec 3, 2013
  • No Responses
  • Print This Post

Financing Details & Terms

FINANCE DETAILS & TERMS

As an available option for our customers, Silver Discount Properties provides financing programs on all of our properties unless otherwise stated. For your convenience, we accept PayPal1, Money Orders, Personal Checks, Cashier/Bank Checks, Credit Cards2, and Bank Wire Transfers3. There are no credit checks or pre-qualifications to finance. Silver Discount Properties is able to offer individualized payment programs for our clients. Please see our Financing Details Page for more information.

1 Payments processed through PayPal will be charged with additional fees. These fees vary and will not be credited towards your balance. E-check payments through PayPal will be charged with a standard fee of $5.00.

2 A Credit Card Processing Fee is required for most Credit Card transactions.

3 The Buyer is responsible for all Fees within each Bank Wire Transfer.

 

 

A. TRANSACTION PROCESS

1. Once you have spoken with a Silver Discount Properties representative, and a Payment Option has been selected, a one-time, non-refundable processing fee4 is required. With some transactions, a deposit may be required.

 

Payment Options are as follows:

 

a. Online PayPal Payment to our account – PayPal@SilverDiscountProperties.com

b. Money Order, Personal Check, or Cashier/Bank Check Via Mail/Postage to:
Silver Discount Properties, LLC
P.O. Box 48708
Los Angeles, CA 90048

c. See Credit Card Authorization Form

 

2. Once your payment will clear, we will prepare all Paperwork/Contract immediately, additionally the property will be reserved (up to two weeks) for you during this process and taken off all marketing and advertising campaigns.

3. After your paperwork is prepared, it will be electronically emailed to the e-mail address you will provide. Your package will include: Standard Purchase and Sale Contract, Sales Receipt along with additional documents.

4. Once the package is received, you will need to sign, notarize, and mail the contract to us along with the agreed upon down payment. For a one-time payment, the full purchase price must be sent unless otherwise agreed upon.

5. We will then mail you your final package, which will include a copy of the contract signed by us. Whether you will be financing or purchasing with a one-time payment, a Deed will be transferred using your requested information once the property will be paid off in full.

6. If financing, monthly payments are to be made on a monthly basis or as agreed upon in the contract with interest and no pre-payment penalties. During the financing period, buyer will be responsible for all POA dues, taxes, and/or fees (if any).

**Please note: If Buyer fails to complete monthly payments on time (with the exception of grace periods outlined in the contract), Seller has the right to reclaim and resell the property. Options given are in general terms and can be altered to satisfy both parties.

4 Processing Fees vary upon each transaction & will not exceed $300. Processing Fees can be combined if purchasing multiple properties in the same location.

 

B. ADDITIONAL TRANSACTION OPTIONS

(Escrow, Title, Mortgage)

In addition to our financing option, we have further options that could be provided to our customers for a smoother transaction. Customer satisfaction is important to our company and we will always try our best to take that extra step.

In exchange for a loan provided by Silver Discount Properties, LLC (“Lender”) to Buyer (“Borrower”), borrower will receive legal title to real property with a secured Note (also known as Promissory Note) attached. The borrower retains equitable title to, and possession of, the property.

Deed of Trust or Mortgage (Depending on which State)

 

With a Deed of Trust or Mortgage, borrower will have legal rights to make any improvements to the property. However, if borrower fails to comply with the Note, lender has full rights to remove borrower’s ownership of the property. Deed of Trust or Mortgage with secured Note will be reconveyed once the loan has been paid off in full.

 

To obtain a Deed of Trust for your property:

  1. A request must be made by Buyer upon purchase
  2. A minimum of 20% of the purchase price must be collected
  3. Buyer can not be habitually late on previous monthly payments
  4. Buyer is responsible for all expenses4 pertaining to the Deed of Trust or Mortgage
  5. Going through with this Deed of Trust or Mortgage process will be at the sole discretion of the Lender

 

Title Insurance

Prior to acquiring any property, Silver Discount Properties, LLC completes extensive research regarding each property. This research process is referred to as Due Diligence. All information obtained is provided on our website. Customers wanting to know further information are always encouraged to contact us with any questions they may have.

Even though our knowledge of each property, which is presumed to be provided by reliable sources, is passed on to you, we can understand why customers may want to obtain Title Insurance on their purchased property. Each company can vary but for the most part, the insurance value is up to the cost of the property and a title search will also be done. Simple Title Searches can also be done without obtaining insurance.

 

To Obtain Title Insurance / Title Search

  1. A request must be made by Buyer upon purchase
  2. Title company is to be chosen by Buyer or we can provide one (if available)
  3. Buyer is responsible for all expenses4 pertaining to Title Insurance/Title Search

Escrow

To assure our buyers that their transaction is safe and Silver Discount Properties, LLC is reliable, we issue a standard Purchase and Sale Land Contract agreement, that is signed an notarized by all parties. However, a buyer may want to take a further step in protecting their investment and decide to go through an escrow company.

Very simply defined, an escrow is a deposit of funds by the Buyer for the delivery to the Seller upon completion of a particular condition that is agreed upon. The escrow holder has the obligation to safeguard the funds while they are in the possession of the escrow holder. Each company may vary on how they operate.

 

To purchase with Escrow

  1. A request must be made by Buyer upon purchase
  2. Escrow company is to be chosen by Buyer or we can provide one (if available)
  3. Buyer is responsible for all expenses4 pertaining to Escrow

 

 

C. TERMS & CONDITIONS

(as stated in our Standard Contracts)

Please read all Terms & Conditions as they are not negotiable. No refunds will be given for any reason. Upon purchase of a property, Buyer agrees to all terms and conditions. Buyer is responsible to do their own due diligence on the property. Due diligence should include, but is not limited to, physical inspection of the property, research of the property, and checking county and state requirements to make sure the parcel being purchased is suited for Buyers’ personal intended use.  All property is sold “AS IS” with any and all faults. All information contained on this website was obtained from sources that are presumed to be reliable and accurate to the best of Sellers knowledge. Seller, however, makes no guarantee, expressed or implied, as to the exact location, present condition, accessibility, terrain, build ability or contained on this website. Buyer should not proceed with a purchase if the buyer is unsure of anything or until every objection has been resolved. If Buyer is unable or does not intend to complete the transaction in every way, then Buyer should not proceed with any purchase. When Buyer sends Earnest Money and/or processing fees, Buyer has agreed to Terms and Conditions. Seller is responsible to make sure that all past fees, taxes, POA, and HOA dues will be paid prior to selling the property. Buyer will take full responsibility of all taxes/fees, upon purchase of property unless agreed upon otherwise with Seller. The Buyer hereby releases the Seller from any and all claims, with regards to the property. Buyer agrees that, upon transfer of title, Buyer shall conclusively be deemed to have released Seller from all responsibility regarding the valuation and condition of the property, and shall conclusively be deemed to have accepted the property and every portion of it in its then existing condition, “as is, where is” without warranty of any kind except those made by Seller herein and with all faults and problems of any kind and nature whatsoever that may then exist, whether the faults or problems are of a legal nature, a physical nature, a contractual nature, an economic nature or otherwise. Pictures contained in this listing are in some cases not of the exact lot but are representative of the area. All reasonable offers will be accepted for review and taken into consideration. We reserve the right to refuse service to anyone.

 

We reserve the right to change our payment options and/or policy at anytime without warning.