A Few Simple Rules About Property Sales With Us

Welcome to Real Estate Investing with California Property Investment Group Inc. 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 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 California Property Investment Group Inc. is 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 California Property Investment Group Inc. provides tax, legal, accounting, investment, title vesting, property valuation, or property repair or serviced needed to complete this transaction.

5. All closing dates are scheduled within 10 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 timely manner. Funds are never collected prior to closing (except the Earnest Deposit).

7. California Property Investment Group Inc. provides the Purchase Contract and/or an Assignment contract. The TOTAL price paid is a combination of the two documents and is clearly stated on 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 Title Company itself.

9. California Property Investment Group Inc NEVER handles your money – all funds are handled by the title companies and are disbursed at closing.

Earnest Deposit and Contract Price.

Buyer to pay earnest money deposit of (1%) one percent of purchase price that is immediately non-refundable unless Seller cannot produce clear title. The contract price for that certain real property is separate from the Agent's commission. Deposit goes towards th Total Sales Price. Buyer shall pay the sum to the Seller in the form of cash, wire transfer or certified funds to title company at start of escrow. No conventional financing required. Buyer understands that property is being purchased as-is, where-is, how-is and with all conditions. Any additional terms shall be listed separately.

Transfer of Ownership.

Seller will provide Buyer with a Special Warranty Deed concerning the transfer of ownership of subject property.

Seller’s Disclosure.

The subject property was purchased by some means at which Seller either purchased the property, or currently controls the property in its “as-is, where-is” condition. Consequently, Seller makes absolutely no representations or warranties of any kind as to the condition of those items or any other items in or around the property described above. Buyer is encouraged to arrange for a home inspection by a local licensed home inspector prior to close of escrow. Buyer expressly acknowledges that they are in no way relying upon Seller in any way to determine the condition of the items set forth herein, as well as all other items existing in or around the subject property.

Buyer expressly acknowledges that he/she/it has done its own investigation and due diligence concerning all items of concern prior to the close of escrow. Buyer also expressly states that he/she/it has done its own due diligence including determining the value of the subject property. Buyer expressly acknowledges that he/she/it is purchasing the property in an “as is, where is” condition.

Closing Date.

Close of Escrow shall occur on or before Close Of Escrow Date. Seller will at their own discretion extend the closing date for Buyer at a rate of $150.00 a day for a period of no more than 30 calendar days.

MUTUAL CANCELATION: Buyer and Seller agree that the Seller must extend this Contract in writing prior to the scheduled Close of Escrow date or this Contract is immediately null and void and the non-refundable earnest deposit shall be released to the Seller out of escrow.

Size of Property.

Seller has exclusively relied upon the information listed by the Your County Assessor’s office, and property tax office, to determine all measurements, including lot size, square footage, number of bathrooms, number of bedrooms, number of total rooms, zoning, permitted use, construction materials, parking, year of construction, and all other pertinent information relating to the subject property. Buyer expressly acknowledges and accepts that Seller makes no representations and warranties of any kind, whatsoever, as to the actual conditions that may exist in or around the subject property, and Buyer acknowledges that he/she/it has conducted his/her/its own investigation and due diligence of these facts and is purchasing the subject property and accordingly makes no representation or warranty regarding the potential encroachment of improvements on the property onto adjoining properties, easements or rights of way and makes no representation or warranty that improvements owned by others do not encroach onto this property or outside easements or rights of way.

Taxes and Fees.

Buyer is responsible to pay all current, back taxes owed and all other associated fees with the subject real property including but not limited to home owners associations fees.

Possession of Premises.

In the event the subject property is occupied at the time escrow closes and title is transferred, Buyer is responsible for initiating, at their own cost, a forcible detainer action to remove the occupant(s) from the premises. Buyer expressly acknowledges that there is no way to accurately predict when a property may become vacant, and Seller has not made any representations as to the date the subject property may become vacant.

Escrow.

Buyer is responsible for all closing costs associated therewith, including but not limited to, title insurance, escrow fees, termite inspection, recording fees, etc. Closing will take place at:

Orange Coast Title - Officier's Name: Shannon Selland - Phone: (916) 891-2206‬ - Email: shannons@octitle.com - Address: 701 University Avenue, Sacramento California 95825

To be added to our Buyer List, Buyer expressly acknowledges by submitting information below that they have read the above and completely agree to our terms.