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Terms and Conditions |
Doing Business Since 1977
| IMPORTANT---READ CAREFULLY |
These properties are being sold at fixed prices on a first come-first serve basis, and are all subject to prior sale, change or withdrawal until the sale is closed. If you find a property you wish to purchase, please call our office at (818) 990-1030. All properties purchased must go through escrow and buyer must purchase a Standard Policy of Title Insurance. Buyer must sign & return all paperwork to seller within 10 days of mailing or seller may cancel sale. The total price paid by buyer for escrow and title policy and related charges will be $800. If 2 or 3 properties are purchased in the SAME escrow, there will be an additional $50 charge for each property added to the $800 fee. So, 2 properties in the same escrow and title will cost $850, 3 properties in the same escrow and title will be $900. We are unable to do this in San Luis Obispo County as the Title Company will only do 1 (one) property per escrow. Escrows will be at The Escrow Cheque, 22900 Ventura Blvd. #200, Woodland Hills, CA. Title will be delivered by Grant Deed subject to easements, covenants, conditions, restrictions, reservations, rights of way, rights & zoning. CONDITIONS OF SALE. All parcels are being sold in an “as is,” “where is,” “with all faults,” if any, physical condition (the actual condition of the property which exists at the date the property is listed For sale) and in the physical location stated in the legal description. The descriptive words of the location are only an approximate statement of the parcel’s location. NO WARRANTY IS GIVEN AS TO THE BUILDABILITY OR ZONING OF EACH PARCEL, OR AS TO EXISTING MEANS OF INGRESS AND EGRESS, OR AS TO THE AVAILABILITY OF UTILITIES TO ANY PARCEL OR TO ITS ZONING. LPL LAND AUCTIONS MAKES NO REPRESENTATION THAT STREETS SHOWN ON COUNTY ASSESSOR’S MAPS ARE IN OR PAVED. Sellers will guarantee each parcel to be free and clear of all monetary liens, except as noted. Should any lien or encumbrances requiring the payment of money (which were not noted) appear on the record title of the parcel and should they have been of record prior to the date the sales contract is entered into, Sellers reserve the right to cancel the sale whether before or after closing, by returning all money paid by buyer, to the buyer, and canceling all other documents. In such event, buyer agrees to transfer title to the parcel by Quitclaim Deed to Sellers. The rescission of the sale shall be buyer’s sole remedy for the breach of sellers’ guaranties and warranties. In the event of Buyer’s default, Buyer shall pay to Seller as Liquidated Damages the larger of $500.00 or ten percent (10%) of the Purchase Price of the property. Seller has attempted to provide the correct legal description and physical location of all properties listed. In the event that the legal description or physical location is incorrect, seller may, prior to the transfer of title, revise the legal description and/or physical location of the property to correctly reflect description and/or location of the property and proceed with the sale, or rescind the transaction and return to the buyer his deposit and all the funds paid by the buyer to the seller for the purchase of the property. In the event property has been conveyed, Seller may rescind the sale of the property and return all sums paid by Buyer to seller and Seller shall pay for all escrow costs or recording fees incurred by buyer in said rescinded sale. In that event the Buyer agrees to transfer title to the property by Grant Deed to Seller. TERM
PURCHASES Any
parcel sold for $3000.00 or more may be bought on terms as follows:
25% down payment plus escrow and title fee, payable to LPL Auction Account,
to be be sent in immediately. After we receive your check, escrow papers will
be sent to you. The balance will be on
a note secured by a first deed of trust payable at the rate of 2% or more per
month of the original face value of the note including interest at the rate of
9% per annum until paid in full. The note
will contain a late payment penalty charge of 6% of the amount of each past due
payment or $15.00 per each past due payment, whichever is larger and beneficiary
shall receive a service fee of $25.00 for any installment payment which is returned
by payor’s bank for reasons of non-sufficient funds. THE DEED OF TRUST IS ASSUMABLE BY ANY FUTURE
BUYERS AND CAN BE PAID OFF AT ANY TIME WITHOUT ANY PREPAYMENT PENALTY. CASH
PURCHASE Any parcel may be purchased for all cash. The full amount of the Sales Price plus escrow and title fee, payable to LPL Auction Account to be be sent in immediately. After we receive your check, escrow papers will be sent to you. PROPERTY TAXES AND ASSESSMENTSReal property taxes and recorded assessments will be paid either through December 31st or June 30th by seller. PROPERTY INSPECTIONAlthough the information contained on the web, concerning the properties to be sold was obtained from sources deemed reliable, it is NOT GUARANTEED, and may be incomplete or in error. Purchaser is required to inspect property personally before calling this office to indicate their desire to purchase property. Failure of a buyer to be fully informed on the condition of the property will not constitute grounds for any claim for adjustment or for withdrawal of purchase. This offer not valid where prohibited.
Page Updated January 31, 2008 |