If you have
decided to make Summerwood Estates your home, I am excited for you and I am
here to help you now and in the future.
Cash Sales
Once you
select your parcel we will sign a Sales Agreement. This is a simple form that
will include important information like the name(s) that will be on the deed,
your current mailing address and contact information. You will also be expected
to pay a deposit of $5,000 at the time we sign the sales agreement. Your check should
be made to Smith Abstract and Title Company. They will handle the closing and
provide you with a title insurance policy at closing.
If you are
paying cash for the purchase you will have 30 days from the date we sign the
sales agreement to provide the remaining amount to complete the sale. The
remaining amount should be a cashier's check or wire transfer to Smith Abstract
and Title of Madison. At the time these funds are received the deed will be
recorded and you will get a copy of the documents returned to you within 2
weeks.
Closing costs
will be paid by me for closings that are completed using Smith Abstract and
Title Company. These costs will include deed preparation and recording, title
insurance policy, closing fees and a copy of the survey plat with all of the
property corners marked.
Therefore,
YOU WILL HAVE NO ADDITIONAL CLOSING COSTS!! Please be aware that if you prefer
to use a different closing agent that is no problem. However, I am not able to
pay the closing costs in that situation.
Property
Taxes will be prorated at the time of sale. You will owe the property taxes
only from the date of closing for that tax year and for subsequent years.
Financed
Sales
Once you
select your parcel we will sign a Sales Agreement. This is a simple form that
will include important information like the name(s) that will be on the deed,
your current mailing address and contact information. If you are financing the
purchase with me (and not a bank) the sales agreement will also include the
details of the financing terms. You will also be expected to pay the down
payment amount listed at the time we sign the sales agreement. Your check should
be made to Smith Abstract and Title Company. They will handle the closing and
provide you with a title insurance policy.
For financed
sales, your first payment will be due approximately 30 days from the date of
the sales agreement. Prior to your first payment you will receive a payment
coupon book and we are able to help you set up an electronic form of payment or
an electronic bank check.
You will
have to sign the note and mortgage at Smith Abstract and Title in Madison or
they can mail those documents to you for your signature. Once they are
returned, they will be recorded along with the deed from me. These will then be
mailed to you. You should receive these documents within 2 weeks of returning
the signed documents.
Closing
costs will be paid by me for closings that are completed using Smith Abstract
and Title Company. These costs will include deed preparation and recording,
mortgage preparation and recording, title insurance policy, closing fees and a
copy of the survey plat with all of the property corners marked.
Therefore,
YOU WILL HAVE NO ADDITIONAL CLOSING COSTS!! Please be aware that if you are
having this property financed through a third party company
or if you prefer to use a different closing agent that is no problem. However,
I am not able to pay the closing costs in that situation.
Property
Taxes will be prorated at the time of sale. You will owe the property taxes
only from the date of closing for that tax year and for subsequent years.