These are the main terms of our agreements: an Installment Sale Agreement for Sunset Ranches lots and a Contract for Deed for the Eagle Flat tract. The signed agreement controls if anything here differs.
Speedy Ventures LLC owns every lot it sells and sells directly to buyers.
The price, interest rate, term and monthly payment are written in each agreement. Annual property taxes are divided into 12 monthly installments and added to each payment, with a $1.00 processing fee.
The buyer may use the lot from signing, as long as payments are made on time.
When the price and all amounts due are paid in full, a Sunset Ranches buyer receives a recordable Ownership Certificate giving the buyer the exclusive beneficial use of the lot, and the Eagle Flat buyer receives a General Warranty Deed.
A payment more than 5 days late adds a 5% late charge. A returned payment carries a $35 fee.
If a payment is missed, we send a written notice of default and the buyer has 14 days to catch up. If it is not cured, we send a second notice, and the agreement is cancelled 14 days after that if the default continues. Notices go by mail or email.
Recreational use only, not a primary residence. Any construction must meet local permitting requirements.
Disputes are settled by binding arbitration in Texas under the agreement.