Buying Properties withFraction 8 Property Solutions

Welcome to Real Estate Investing with Fraction 8 Property Solutions. We are pleased that you have chosen to take advantage of one or more of our great wholesale deals. At this time we would like to remind you of a few things and provide you the steps to make this a smooth and successful transaction.

  1. All properties are sold as-is, where-is and with no warranties expressed or implied unless otherwise stated in the contract terms.
  2. All properties convey with a Special Warranty Deed. The seller does none of their own title work when they buy the property and none when they sell. Defects (if any) are the responsibility of the BUYER to discover and remedy. Examples of defects could be but are not limited to: back due property taxes, utility bills, homeowner association liens, dues or assessments, code violations, city assessments. Many of these items can be learned for free by doing your own research upfront. Still, a full title search may be desired and can be done by a local title company. Buyer is responsible for all due diligence and as much due diligence as possible should be done prior to agreeing to this contract.
  3. Neither the Seller of Record nor Fraction 8 Property Solutions are acting as an agent in the sale nor do we compensate for agency agreements on behalf of the buyer. If you are working with an agent, it will be your responsibility to pay their fees.
  4. Neither the Seller of Record nor Fraction 8 Property Solutions provide tax, legal, accounting, investment, title vesting, property valuation, or property repair or service needed to complete this transaction.
  5. All closing dates are scheduled within 14 days of deposit unless otherwise noted. All sales are cash/hard money ONLY.
  6. Due to the nature of where we get our inventory, closings can be delayed simply because deeds are not in and/or recorded in the name of the selling entity – this is not to say the seller does not control the property. This is because we purchased the property as a Short Sale, Bank Owned Home, at Foreclosure Auction, directly from a seller, or by some other means where the title has not transferred at the same time or even in a timely manner. Funds are never collected prior to closing (except the Earnest Deposit).
  7. Fraction 8 Property Solutions provides the Purchase Contract and/or an Assignment contract. The TOTAL price paid is a combination of the two documents and is clearly stated in the Assignment Contract. This TOTAL price is the price agreed upon by the buyer at the time of Contract.
  8. A non-refundable earnest deposit stated within this Contract is due to open escrow – the check should be made out to the F8 EDP Corporation and sometimes the Title Company itself.
  9. Fraction 8 Property Solutions never handles your money – all funds are handled by the title companies and are disbursed at closing, with the exception of the earnest money deposit.

If you have any questions please call us at 985-200-4020

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