Yazel Auction Terms
GENERAL TERMS AND CONDITIONS
- EVIDENCE OF TITLE. The Seller shall, within 15 days from the date hereof, obtain a commitment to issue an owner’s policy of title insurance in the amount of the purchase price, naming Buyer as the insured, written by a title insurance company licensed in Missouri which policy shall insure the owner’s title to be in the condition called for by this contract, and which commitment shall provide that said policy shall be issued forthwith after the seller’s general warranty deed shall be placed of record. After delivery of said title insurance commitment, the Buyer shall have ten days to examine said title insurance commitment and notify the Seller in writing of any objections thereto. If there be any objections, the Seller shall within a reasonable time furnish to Buyer a new or amended title insurance commitment satisfying any such objections, but if such commitment shall not be furnished within 30 days after said notice, the Buyer at his election may avoid this contract by written notice to the Seller prior to the furnishing of such commitment, in which case the down payment shall be returned to the Buyer. If the failure to furnish a title insurance commitment is due to the fact that title defects cannot be corrected, then this contract shall be void, unless the Buyer gives notice to the Seller in writing of his election to waive such defects, and the down payment shall be returned to the Buyer, and if the Seller was in actual good faith the Seller shall not be liable to the Buyer for any damages. The Seller shall pay all costs for the issuance of the title insurance commitment and policy.
It is understood and agreed that the title herein required to be furnished is marketable title as set forth in Title Standard 4 of the Missouri Bar. It is also agreed that any encumbrance or defect in the title which is within the scope of any of the title standards of the Missouri Bar shall not constitute a valid objection on the part of the Buyer, provided the Seller furnishes Affidavits, or other title papers, if any, described in the applicable standard.
- CONVEYANCE BY PERSONAL REPRESENTATIVES DEED. If the title to said real property be marketable in fact as called for herein, the Seller shall deliver to the Buyer at closing a personal representative’s deed free and clear of all liens and encumbrances whatsoever, except as herein provided.
- TAXES AND RENTS. The Seller shall pay in full all state and county taxes and assessments, general and special, which are a lien upon the said property, except those taxes for this calendar year which shall be prorated as of the date of closing of this contract as a credit to Buyer, and Buyer shall thereafter be solely liable for all taxes payable on the premises for the year of closing.
- INSURANCE OF PROPERTY. It shall be Seller’s obligation to keep the improvements on the said property insured to the amount of the winning bidders purchase price until the date of delivery of the deed to the Buyer. If the improvements on the said property are damaged or destroyed by fire or other casualty prior to the closing of this sale, then the Buyer shall be entitled to aforementioned insurance proceeds and shall proceed to perform with contract to purchase.
- POSSESSION. Possession of the property shall be delivered to the Buyer AT CLOSING/FUNDING.
- FIXTURES, IMPROVEMENTS AND PERSONAL PROPERTY. If applicable, all fencing, gates, buildings and fixtures on said real estate shall be included in the property to be conveyed to Buyer, along with the following described personal property located thereon, to wit: Electric, plumbing, heating and air conditioning fixtures and equipment, attached floor coverings, window shades, venetian blinds, curtain rods, storm doors and windows, screens, awnings, and attached mirrors. All remaining personal property remaining on site as of close shall be property of the purchaser. The Buyer accepts the premises “as is” without any warranty, express or implied. The Buyer acknowledges and agrees that they are not relying on any representation of Seller or Seller’s agent in signing this contract and agreeing to purchase the premises above described. The condition of the premises is reflected in the purchase price. Buyer acknowledges that they have conducted or have had an opportunity to conduct their own inspection of the premises and of its various components and accept the premises in its present condition
- RIGHTS OF TENANTS. This sale is subject to the rights of use and possession of the following named tenants:
Tenant Rights of Tenants
- GOVERNMENT PAYMENTS. Buyer shall receive or be given credit at closing for all government payments payable with respect to or identifiable to these premises and payable to the owner of the real estate paid after the date of this contract.
- SECTION 442.606 DISCLOSURE. The following disclosure is required by Missouri State Statute. Seller has no knowledge as to whether or not the Property has ever been used for methamphetamine production. Seller has no knowledge as to whether or not the Property has ever been used as the residence of a person convicted, or has ever been used as the storage site or laboratory for any of the substances for which a person was convicted, of any of those crimes listed in §442.606, RSMo.
- CLOSING. This contract shall be closed at the offices of the escrowee on the first business day which is no more than 45 days from the date of this contract. The date of closing may be extended by either party upon notice to the other to allow sufficient time to correct title defects or provide evidence of title within the time limits presented by this contract.
Each party shall pay one-half of any fee charged by the escrowee for closing this transaction. Buyer will pay all recording costs other than for recording any documents required to be recorded by Seller in order to make title marketable. - EARNEST MONEY. The parties acknowledge that, should the Buyer fail to comply with the terms of this contract due to the Buyer’s fault, that at the option of the Seller, the earnest money deposit paid down at the date of sale shall be considered as liquidated damages, and forfeited to Seller. Notwithstanding the foregoing provision if the Seller after making diligent effort to sell the premises in a commercially reasonable manner, sells the property for an amount that is less than the purchase price called for herein, and as a result incurs actual damages as a result of Buyer’s breach that are greater than the liquidated damages, Seller may recover from Buyer the difference between the actual damages and the liquidated damages; and if the damages claimed are not paid within ten days from demand may also recover reasonable attorney’s fees and costs incurred in collecting such additional damages.
- AUCTIONEER’S BUYERS PREMIUM. In the event of a default by Buyer, Auctioneer is entitled to forfeiture of buyer’s premium. In the event of a default by Seller, buyer’s premium will be refunded to the buyer and Seller will be responsible for the repayment of buyer’s premium to the Auctioneer.
This contract shall be binding upon each of the signatories hereto and their heirs and assigns.
- AGENCY DISCLOSURE. Seller and Buyer acknowledge that the real estate licensees involved in this transaction may be functioning as agents of the Seller, agents of the Buyer, or transaction brokers. Licensees functioning as an agent of the Seller have a duty to represent the Seller’s interest and will not be the agent of the Buyer. INFORMATION GIVEN BY THE BUYER TO AN AGENT FOR THE SELLER WILL BE DISCLOSED TO THE SELLER. Licensees functioning as an agent of the Buyer have a duty to represent the Buyer’s interest and will not be an agent of the Seller. INFORMATION GIVEN BY THE SELLER TO AN AGENT FOR THE BUYER WILL BE DISCLOSED TO THE BUYER. Licensees functioning in the capacity of a transaction broker are not agents for either party and do not advocate the interests of either party.
Listing Licensee and Selling Licensee are functioning as Seller’s Agent.
SPECIAL TERMS AND CONDITIONS
- “AS IS” SALE. Buyer(s) are purchasing the property in its “EXISTING CONDITION” WITHOUT REPRESENTATIONS OR WARRANTIES OF ANY KIND OR NATURE. Buyer(s) acknowledge for Buyer(s) and Buyer(s’) successors, heirs and assignees, that Buyers have been given a reasonable opportunity to inspect and investigate the property and all improvements thereon, either independently or through agents of Buyer(s’) choosing at Buyer(s’) expense and that in purchasing the property, Buyer(s) is/are not relying on Seller or Seller’s agents as to the condition of the property and/or any improvements thereon, including but not necessarily limited to: ALL EXISTING WINDOW COVERINGS, FLOOR COVERINGS, ELECTRICAL, PLUMBING, HEATING, SEWAGE, SEPTIC, ROOF, FOUNDATION, SOILS AND GEOLOGY, LOT SIZE OR SUITABILITY OF THE PROPERTY AND/OR ITS IMPROVEMENTS FOR PARTICULAR PURPOSES, OR THAT THE IMPROVEMENTS ARE STRUCTURALLY SOUND AND/OR IN COMPLIANCE WITH ANY CITY, COUNTY, STATE AND/OR FEDERAL CODES OR ORDINANCES. The closing of this transaction shall constitute an acknowledgment by the Buyer(s) that the premises were accepted without representation or warranty of any kind or nature and in its “EXISTING CONDITION” based solely on Buyer(s’) own inspection.
Yazel Sale Bill
Yazel Inventory
Knowing Your Neighbors! Is Print Advertising Still Relevant?
When it comes to selling your house for top dollar, good marketing is hands down the most important factor. You can have a beautiful home at a fair price, but if few people know about it you won’t be able to sell, at least not at a favorable price.
Recently we saw a local real estate agent from another brokerage post a national poll (unsourced) claiming that only 1% of buyers found their house through the local newspaper. Now, that may or may not be true (we can’t really verify without knowing where that came from), but if we give the benefit of the doubt it was a national poll. We may all be one country, but you’ve got to admit there are some pretty big differences between various parts of the United States. Even if that is true that only 1% of people in the bigger metropolitan regions like New York and Los Angeles find their home through the paper, we had a hunch that that just wasn’t true for the Nevada/Vernon County area.
So, to test our theory we conducted our own poll, of only people in Vernon County. Surely more than 1% of people here find their home through the paper. Boy, were we right, and then some! With 125 respondents a full 62% of them said that they or people they know use the newspaper to find a home! That’s right folks, almost 2/3rds of people are looking for their next home in the paper!
While we don’t know the motivation of that other agent, it does seem possible that they were using it as an argument for not posting your home for sale in the paper. Now it’s easy to imagine why that might be the case, frankly, print advertising is expensive. As a matter of fact we guarantee to run your home in the paper, EVERY SINGLE WEEK, until it sells. Other brokerages might not want to make that investment in your home, and are fine only targeting 1/3 of potential buyers.
No matter who you choose to list your home with, ask them about their marketing, and why they do what they do. Interview some other brokerages, then come talk to a Curtis and Sons agent last, and you’ll understand why we have listed and sold nearly 2.5 times the number of properties in the area than our nearest local competitor (in the last 365 days)- we’re willing to invest the money and the research into properly marketing your home! Give us a call at 417-667-7868- you won’t regret it!
Would You Move Out and Back Into Your Home for $250?
Moving day is here! You’ve had your home on the market for two months, got a great offer, accepted, and been in escrow for the last month and a half! About three weeks in it seems like everything is good to go, the buyer’s agent has assured you they have loan approval and enough money to close. You’ve found your dream home on the other side of town, and gotten an offer accepted! In the meantime you’ve just put everything in storage for a few weeks in between closing the old house and the new one! The whole family is really excited, the new home is bigger than your old one, has a gorgeous kitchen, and a great view of the lake! The last 3 weeks have been hectic, you never imagined it would take so much time to move all that furniture out of the house, and clean everything and get it all ready to move in for the new folks! All that is finally done, and you’re just about to go over to the title company to sign all the papers formally transferring ownership. You feel your phone buzz in your pocket. It’s your agent, and she asks if you can talk now. You start feeling a knot in the pit of your stomach… You call your agent, and she starts off with, “I’m afraid I’ve got some bad news…. The buyers aren’t going to close….”
Unfortunately, this scenario has, and continues to happen. You’ve moved all your furniture out, you’re in escrow on a new house (and need to sell your old one first), and at the last minute the buyers can’t close. Maybe they got cold feet, maybe they experienced a job loss, maybe they made a bad decision and ran up their credit card and no longer qualify- really it could be anything. The fact of the matter is, you’re now in a pickle….what do you do?
There’s a lot of complicated aspects to even a seemingly simple real estate sale that many people don’t understand (yet another reason why it’s important to work with an experienced Curtis and Sons agent!) Earnest money is one of those. So what is that? Well, simply put, earnest money is a certain amount of money you put upfront with an offer to buy a home. If you end up closing on the home as planned, it gets applied to your purchase price. If you don’t close on the house (with a few time limited exceptions), then you (the buyer) lose that money.
Sounds pretty harsh, right? You might say, “I signed a contract, I’m promising to buy the house, why do I need to put up money?” Well, the unfortunate reality is that not all transactions end up working out. Sometimes it’s the buyer’s fault, sometimes its the lenders fault. However, it can rarely be the seller’s fault- when they sign a contract to sell a house they are legally obligated to go through with the sale for the agreed upon price, as long as the buyer is able to pay. If the seller refuses for some reason, the buyer can get a court order forcing the sale.
So, as you can see, once a sales contract is signed, the seller is basically stuck with what they agreed to (subject to some negotiations involving repairs after an inspection). However, the buyer has a lot of “outs”. On a typical sales contract with a mortgage the buyer has a period of time to get an inspection, and back out with no penalty if they don’t like the results. If the house doesn’t appraise for enough, or they end up not being able to get a loan (within agreed upon timelines), they can also back out with no penalty. This tilts the playing field even further in favor of the buyer.
It gets even more biased against the seller though- if it’s someone selling their personal residence to move, they are most likely going to need a professional moving company, and have to pay them up to $5630 (the national average for an interstate move according to US News and World Report), as well as schedule that a couple weeks in advance. So, our unfortunate seller could be at a week from closing, having laid out almost $6,000 to a moving company, gone through all sorts of stress, strain and time invested in the move, and then the buyer has a change of heart, something bad happens with their credit, etc, and they back out of the deal. What on earth does our seller do there??
Well, pardon the long buildup, but we finally get to the answer to our initial question. That’s where earnest money comes in. Hopefully the seller had a good agent, who collected a significant, earnest money deposit, that, according to law, as well as just plain common sense and ethics, should go to the seller. This hopefully compensates them for their moving expenses, stress and strain, as well as potentially missing out on a better offer or stronger buyer while their house was in escrow.
Earnest money does even more though. Having to pay some money upfront shows the seller that the buyer is serious, and intends to keep their word to the best of their ability. In any kind of competitive market, no seller will take an offer with no (or very low) earnest money seriously- it shows that the buyer is either unable or unwilling to “put their money where their mouth is”, and truly commit to buying the house.
So what to do if you don’t have very much money, but can qualify for a loan, and found a house you love? Well, that’s where working with an experienced agent can help-we can find creative solutions such as a “Possession After Closing” agreement. This is an agreement that simply allows the seller to stay in the house a little after closing, typically 1 or 2 weeks. This gives them enough time to move out, AFTER they’re sure that the deal has closed! Easy peasy, works for everyone!
So, apologies for the long post, but please, buyers and buyers’ agents, realize how important earnest (or other solutions like possession after closing) money is! It’s really the only way to make the transaction process fair to sellers. We hate when anyone loses their dream and a deal falls through, but we do have to protect sellers who can potentially end up in such a bad situation.
Preventing Child Abuse is Incredibly Important to All of Us!
April is National Child Abuse Prevention Month, and we’re trying to do our part to raise awareness! No child should ever have to live in an abusive situation, and that’s why the work that organizations like the Children’s Center of Southwest Missouri is so important. Our own Vanessa Leisure volunteers with this wonderful organization, and we’re all passionate about preventing child abuse. Please wear blue to show your support for this essential mission, and together we can work to eliminate child abuse!
Vintage Sign for a Beautiful Vintage Home!
Well folks, we still have a few of the vintage signs we used back in the 1950’s and 1960’s (back when Monte was a young’un!) around the office! They don’t make an appearance very often, but for a home as special as this one we needed a special sign! Chris and Terri just closed on this gorgeous, restored brick Victorian beauty- one of the finest examples of classic architecture in Nevada! For an occasion this special we had to bring out the special sign too! The rooster used to be our calling card, and it’s welcoming you home with a proud cock-a-doodle-doo! Congratulations on your stunning home Chris and Terri- and thanks for being loyal repeat clients! We always enjoy working with you, and hope you have many happy years in this amazing part of Nevada history!
First Time Homebuyers Are Joann’s Favorite!
Joann Cash loves helping first time homebuyers achieve their piece of the American dream! It can sometimes be intimidating trying to buy your first home, but rest assured Joann has years of experience and will be right by your side helping you through the whole process. Thanks Josh and Alexis for choosing Joann to find your perfect first home! Even better, a fast closing with money to spare for new furniture! Congratulations and have fun moving in this weekend! Call Joann at 417-684-2303 to get your Home Sweet Home dreams started!
At Curtis and Sons We Sell Your Home Faster than the Competition-AND for a Lower Commission!
Well folks, the stats just came in, and we did pretty darn well, if we do say so ourselves! Our average number of days on market for Curtis and Sons listings in 2017 was only 93! For comparison’s sake, our closest major competitor in Nevada had an average of 125 days on market! How did we accomplish this you might ask? Well, we offer a full spectrum marketing campaign consisting of print media, local MLS, video tours, drone videography where appropriate, prominent placement on major websites, AND video tours of your home! But technology can only go so far- it’s the people that really make it! We have a fantastic team with over 100 years combined of experience, and our agents take the time to sit down with you, visit, and get to know you and your needs! This combination of great technology and a great team is what allows us to do so well!
Not only that, but our commissions start at 3% (5% if we find the buyer and handle both sides of the transaction) which means more money in YOUR pocket! On a $145,000 sale, you would net an extra $1450 selling with us that way!
Why choose anyone else? Give us a call at 417-667-7868 and any of our friendly agents will be happy to let you know just how hard we’ll work for you!