Terms and Conditions

Welcome to Impact Realty Services LLC!

1. Service Overview

Impact Realty Services LLC specializes in acquiring properties from sellers under contract. We may or may not assign these properties to investors. All properties are sold "as-is," and Impact Realty Services does not guarantee any repairs or improvements unless otherwise stated.

2. Eligibility
By using our services, you confirm that you are at least 18 years old and legally capable of entering into a binding agreement.

3. Fees and Payments
At Impact Realty Services, we strive to provide clarity and transparency regarding all fees and payments associated with our real estate transactions. This section details how we charge for our services, the timing and structure of payments, any related costs, and the client’s responsibilities. By entering into an agreement with us, you acknowledge and agree to these terms regarding compensation, payments, and financial obligations.

3.1 - Compensation Structure

Real Estate Transactions

Our compensation is derived from real estate transactions. The terms and agreements of these transactions will be outlined in the purchase contract. These agreed upon compensations are typically paid at closing, but terms may vary depending on the specifics of the transaction. All payments must be made in full and on time. Any delay in payment may result in additional fees or the termination of the agreement. Buyers are responsible for all closing costs unless otherwise specified in the contract.

Percentage-Based Commission:

Impact Realty Services may charge a percentage of the final sale price of the property. This commission structure will be detailed in the purchase agreement. It is important to note that this percentage-based fee applies to the total sale price and will be deducted at the time of closing. The specific percentage will be discussed and agreed upon in writing before the start of the transaction.

3.2 - Payment Timeline

Payment of all fees and commissions is typically due at the time of closing, unless otherwise specified in the contract. Impact Realty Services will coordinate with all parties involved (e.g., title companies, escrow officers, attorneys) to ensure that our fees are accounted for in the final settlement statement (HUD-1 or similar document). Once the closing process is complete and all legal requirements are met, our fees will be disbursed as part of the transaction closing. Failure to complete payment by the agreed-upon date may result in penalties, including additional fees, interest, or cancellation of the transaction.

3.3 - Upfront Deposits

In some transactions, Impact Realty Services may require an upfront, non-refundable deposit to secure the property under contract and demonstrate the buyer's commitment to the transaction. This deposit will be applied toward the final agreed upon fee or commission, but if the buyer fails to close on the property for any reason, the deposit will be forfeited and retained by Impact Realty Services. The exact amount of the deposit will vary based on the property and deal structure and will be clearly outlined in the purchase agreement.

3.4 - Closing Costs

In most real estate transactions, the buyer is responsible for all closing costs unless otherwise specified in the contract. Closing costs may include, but are not limited to, title insurance, attorney’s fees, recording fees, and escrow or settlement fees. Impact Realty Services will provide an estimate of these costs, but the final amount will be determined by the title company or closing agent. If the buyer or seller requests additional services (e.g., inspections, surveys, or appraisals), these costs are also the buyer’s responsibility unless agreed upon differently.

3.5 - Additional Fees

In rare cases, there may be additional fees associated with a specific transaction. These fees could arise due to unique circumstances, such as delays in closing, legal complications, or additional services requested by the buyer. If any additional fees become necessary during the course of the transaction, Impact Realty Services will notify the buyer in writing and obtain consent before incurring any charges. The buyer is responsible for paying these fees before or at the time of closing, depending on the agreement between the parties.

3.6 - Default on Payment

If the buyer defaults on the agreed payment terms, Impact Realty Services reserves the right to pursue legal remedies, including but not limited to, seeking compensation for any damages incurred as a result of the default, retaining any deposits made, and terminating the agreement. Failure to complete payment may also result in the forfeiture of the property or contract rights, and Impact Realty Services may reassign or resell the property to another buyer. In the event of default, the buyer may also be responsible for any legal fees incurred by Impact Realty Services in enforcing the terms of this agreement.

3.7 - Refund Policy

Impact Realty Services operates under a strict no-refund policy. Due to the nature of the real estate industry, all transactions, deposits, and commissions paid are non-refundable under any circumstances. These payments reflect the time, effort, and resources invested in securing properties, negotiating deals, and facilitating transactions. Once a contract is signed and fees are paid, they are considered fully earned by Impact Realty Services, regardless of whether the transaction ultimately closes.

By agreeing to these terms, you acknowledge and accept the risks associated with real estate transactions and understand that refunds will not be issued for any reason, including changes in personal circumstances, financing issues, or decisions to withdraw from the deal. We encourage all buyers to conduct thorough due diligence and be certain of their decision before proceeding with any transaction.

This policy ensures that all parties involved in the transaction are fully committed and that the resources allocated by Impact Realty Services are compensated for accordingly.

3.8 - Payment Methods

Impact Realty Services accepts various forms of payment, including wire transfers, credit cards, global money transfer, cashier's checks, bank checks, escrow payments, company checks and certified funds. Personal checks may be accepted at the discretion of the Company but must be cleared before the payment is considered complete. All payments must be made in U.S. dollars. The method of payment will be outlined in the agreement, and it is the buyer’s responsibility to ensure that payments are made using an acceptable method. Any delays caused by improper payment methods or issues with payment clearance may result in penalties or delays in closing.

3.9 - Tax Implications

Buyers and sellers are responsible for understanding and addressing any tax obligations associated with real estate transactions, including commissions paid to Impact Realty Services. We recommend that all clients consult with a tax advisor or accountant to ensure compliance with federal, state, and local tax laws. Impact Realty Services will not provide tax advice and is not liable for any tax consequences that may arise from the transaction.

By entering into an agreement with Impact Realty Services, you acknowledge that you have read and understood the terms outlined above regarding fees and payments. These terms are designed to provide clarity and ensure a smooth transaction for all parties involved.

4. Property Disclosures
Impact Realty Services buys and sells properties in their current, “as-is” condition. However, there is a clause in each of our real estate contracts, which states that all deals or the sale of a property are pending until the inspection of the property is satisfactory and meets all city guidelines and codes. This process usually takes between 10-15 days.

5. Limitation of Liability
Impact Realty Services is not liable for any losses, damages, or liabilities resulting from the condition of the properties or the use of our services. We make no warranties regarding the value, condition, or marketability of the properties we sell. Buyers acknowledge that they assume all risks associated with purchasing real estate. In no event shall Impact Realty Services be held responsible for any indirect, incidental, or consequential damages arising out of or related to the purchase of a property.

6. Dispute Resolution
In the event of a dispute between Impact Realty Services and a client, both parties agree to attempt resolution through mediation before pursuing litigation. If mediation does not resolve the dispute, the matter will be referred to binding arbitration, conducted in accordance with the rules of the specific state’s law. Each party will bear its own costs for mediation or arbitration unless otherwise agreed. Any legal actions, if necessary, must be brought in the courts located in the specific city or state.

7. Termination
Termination of this agreement is only permissible if the obligations of the contract have not yet been fulfilled. Once all obligations, including payment of fees, costs, and any other contractual requirements, are completed, the agreement cannot be terminated. If a party seeks to terminate the contract before all obligations are met, written notice must be provided, and any outstanding fees or costs due to Impact Realty Services must be paid in full.

Impact Realty Services reserves the right to terminate the agreement if the client fails to fulfill their contractual obligations, such as completing due diligence or making timely payments. In such cases, the Company will make reasonable efforts to protect both parties' interests and ensure an equitable resolution. However, termination will not release the client from their responsibility to pay any fees incurred up to the point of termination.

Once the obligations of the contract are fulfilled, both parties are bound to the terms, and the contract will remain in effect until its completion.

8. Governing Law
These Terms and Conditions shall be governed by and construed in accordance with the laws of each individual state. Any legal disputes or actions arising from these terms must be brought in the courts located in the particular city and state in question. By using our services, you agree to submit to the jurisdiction of these courts.

9. Changes to Terms

Impact Realty Services reserves the right to modify or update these Terms at any time. Any changes will be posted on this page, and continued use of the website constitutes acceptance of those changes.

License:

Unless otherwise stated, Impact Realty Services and/or its licensors own the intellectual property rights for all material on Impact Realty LLC. All intellectual property rights are reserved. You may access this from Impact Realty LLC for your own personal use subjected to restrictions set in these terms and conditions.

You must not:

• Copy or republish material from Impact Realty LLC

• Sell, rent, or sub-license material from Impact Realty LLC

• Reproduce, duplicate or copy material from Impact Realty LLC

• Redistribute content from Impact Realty LLC

Disclaimer:

To the maximum extent permitted by applicable law, we exclude all representations, warranties, and conditions relating to our website and the use of this website. Nothing in this disclaimer will:

• Limit or exclude our or your liability for death or personal injury;

• Limit or exclude our or your liability for fraud or fraudulent misrepresentation;

• Limit any of our or your liabilities in any way that is not permitted under applicable law; or

• Exclude any of our or your liabilities that may not be excluded under applicable law.

The limitations and prohibitions of liability set in this Section and elsewhere in this disclaimer: (a) are subject to the preceding paragraph; and (b) govern all liabilities arising under the disclaimer, including liabilities arising in contract, in tort, and for breach of statutory duty.