Purchase Terms of Use

Solid Ground Ventures LLC PO Box 535, Washington, IL 61571 | (877) 876-1746 | hello@solidgroundventures.com

1. Agreement Overview

These Purchase Terms of Use govern the sale and purchase of vacant residential land between the Buyer and Solid Ground Ventures LLC (“Seller”), a Wyoming Limited Liability Company. This is a legally binding agreement. Buyers are strongly advised to consult legal and tax counsel before signing.

2. Property

The property subject to this agreement will be identified by its Parcel ID and Legal Description as specified in the executed contract documents.

3. Purchase Price & Payment Options

Solid Ground Ventures LLC offers two payment structures:

Cash Sale — Full purchase price paid upfront. This contract is not contingent on financing.

Owner Financing (Terms) — Seller finances a portion of the purchase price via a Promissory Note and Land Sale Contract, with structured monthly payments including principal, interest, a Note Servicing Fee, and estimated property taxes.

A one-time processing/document preparation fee is due at signing in addition to the down payment.

4. Down Payment

A down payment is required to secure the property and initiate the agreement. Receipt of the down payment is acknowledged by Seller upon execution of the contract.

5. Property Condition

The Buyer accepts the property in its current “as-is” condition following personal inspection. The Seller discloses no wetlands, flood plains, hazardous substances, petroleum products, or underground storage tanks on the property unless otherwise stated.

6. 90-Day Satisfaction Guarantee

Solid Ground Ventures LLC provides a 90-day satisfaction guarantee from the date of down payment. If, for any reason, the Buyer is unsatisfied with the property within this period, Solid Ground Ventures LLC will either:

Exchange the property for another, or
Refund all monies paid, minus closing costs, payment fees, and accounting setup fees.

7. Financing Terms (Owner Financing Only)

Monthly payments are due 30 days from the contract date.
Payments are applied first to accrued interest, then to late charges, then to principal.
A 5-day grace period applies to each monthly payment.
There is no prepayment penalty — the note may be paid off at any time, with only interest accrued to the payoff date assessed.
Property taxes are prorated and included in the monthly payment; Seller pays taxes directly until full payoff.
The interest rate increases by 5 percentage points upon default.
A late charge is assessed if payment is 5 or more calendar days past due.

8. Default & Foreclosure (Owner Financing)

If the Buyer is 35 days past due, the Seller will notify the Buyer via email. The Buyer then has 15 days to bring payments current. If full payment is not received, the property may be considered foreclosed and the Buyer will forfeit all payments made. Seller may reclaim the property without court action per the Land Contract terms.

For the Cash Contract, if the Buyer fails to comply, the Seller may enforce specific performance or terminate the contract and retain the earnest money as liquidated damages.

9. Title & Conveyance

Title is conveyed to Buyer by Warranty Deed.
Under owner financing, the Seller holds the Warranty Deed until the property is paid in full, then records the deed within 30 days of payoff.
Seller warrants the property title will remain free of loans, liens, or encumbrances throughout the payment period.
Seller will satisfy all outstanding mortgages and liens prior to or at closing.
A title report is not automatically provided; Buyer may conduct their own title search at their own expense.
If title defects are found, Seller will notify Buyer within 5 days of closing, and Buyer may cancel the contract (with full refund of earnest money), accept title as-is, or allow Seller reasonable time to cure defects.

10. Closing

Closing date is specified in the executed contract and may be extended by up to 7 days to resolve title objections, or by written mutual agreement.
If closing is done directly (without a title company), there is no cost to the Buyer.
If closed through a title company, costs are allocated as follows:

Closing Cost	Responsible Party
Attorney / Title Company Fees	Buyer
Title Insurance	Buyer
Title Abstract or Certificate	Buyer
Recording Fees	Seller
Appraisal	Buyer
Survey	Buyer
Transfer Taxes	Seller
All Other Closing Costs	Buyer

Taxes, interest, maintenance fees, assessments, and dues are prorated through the Closing Date.

11. Timber Rights

Under owner financing, Seller reserves the right to limit timber removal from the property to only that area necessary for placing a dwelling or structure, until the full purchase price (including interest) is paid.

12. Possession

Prior to closing, the property remains in the possession of the Seller.

13. Appraisal & Survey

Any appraisal is the sole responsibility of the Buyer. A survey is not required.

14. Assignment

The Buyer may not assign this agreement without the Seller’s written consent. The Seller may assign this agreement, and it shall be binding on all heirs and assigns of both parties.

15. Attorney’s Fees

The prevailing party in any legal proceeding related to this agreement is entitled to recover all costs and reasonable attorney’s fees from the non-prevailing party.

16. Federal Tax Compliance

If the Seller is classified as a “foreign person” under applicable law, the Buyer is required to withhold sufficient funds from the sale proceeds and remit them to the IRS with appropriate tax forms. Cash transactions exceeding IRS-specified amounts require written reporting.

17. Notices

All notices must be in writing and delivered by mail, hand-delivery, or facsimile to the addresses specified in the executed contract. Buyers must maintain a valid email address on file for default notifications.

18. Entire Agreement

This agreement, together with the Land Contract and Promissory Note (where applicable), constitutes the entire agreement between the parties. No oral statements, warranties, or representations outside this written contract are binding. Any modifications must be made in writing and signed by both parties.

19. Governing Law

This agreement is governed by the laws of the State of Arizona.

Time is of the essence in the performance of this agreement. Solid Ground Ventures LLC strongly encourages all buyers to review these terms with a qualified attorney prior to signing.