Purchase Terms of Use

Land Mason | All Out Ventures, LLC 2870 Peachtree Road NW, #915-8151, Atlanta, GA 30305 Phone: 470-988-9161 | Email: hello@landmason.com

⚠️ WARNING: These purchase terms constitute a legally binding contract with substantial legal consequences. All parties are strongly advised to consult legal and tax counsel before signing.

Two Purchase Options

Land Mason offers two ways to purchase vacant residential land — a Cash Purchase or a Terms (Owner-Financed) Purchase. Both are direct, no-broker transactions governed by the laws of the State of Georgia.

1. Agreement to Purchase

The Buyer agrees to purchase the property described in Appendix A (Parcel Number and Legal Description) from All Out Ventures, LLC (“Seller”). All property sold under this agreement is referred to as the “Property.”

2. Purchase Price & Payment

Cash Contract: A down payment is due within two (2) days of signing. The remaining balance is due on the Closing Date, payable via cashier’s check, wire transfer, or money order. A one-time processing fee is also due at signing.

Terms (Owner-Financed) Contract: The Seller finances a portion of the purchase price via a Promissory Note. Monthly payments cover principal, interest, a Note Servicing Fee, and estimated property taxes. Payments are applied first to accrued interest, then to late charges, then to principal. There is no prepayment penalty — the note may be paid off at any time, with only interest accrued to the date of payoff assessed.

3. Down Payment & Processing Fee

The Buyer’s down payment is deposited with All Out Ventures, LLC. A one-time, non-refundable processing fee is due at signing.

4. Property Condition

The Property is sold “as is, where is, and with all faults.” The Buyer acknowledges having had a full and adequate opportunity to inspect the Property. Under the Terms Contract, the property is additionally covered by a 30-Day Satisfaction Guarantee — if the Buyer is unsatisfied for any reason within 30 days of the down payment, All Out Ventures, LLC will either exchange the property or refund the down payment. Processing and document fees are non-refundable.

5. Utilities & Environmental

The Buyer accepts the current condition of all utility access. The Seller is not aware of any wetlands, shoreland, flood plains, hazardous substances, petroleum products, or underground storage tanks on or affecting the property, except as otherwise disclosed.

6. Closing

The closing shall occur on or before the agreed Closing Date. The date may be extended up to 7 days to address title objections, or by written agreement of both parties.

7. Title & Conveyance

The Seller conveys title to the Buyer by Warranty Deed, free of outstanding mortgages or special liens. Title shall be good and marketable, subject only to existing covenants, utility easements, zoning ordinances, applicable assessments, and current-year taxes.

Under the Terms Contract, the Seller holds the Warranty Deed until the property is paid in full, at which point the deed is recorded within 30 days of payoff. The Seller also warrants that the title will remain free from loans, liens, or encumbrances throughout the payment period.

A title report is not automatically provided — the Buyer may conduct their own title search at their own expense. If title defects are found, the Seller shall notify the Buyer within 5 days of closing, and the Buyer may cancel the contract (with a full refund of earnest/down payment money), accept title as-is, or allow the Seller reasonable time to cure the defects.

8. Appraisal & Survey

Any property appraisal is the Buyer’s responsibility. A survey is not required.

9. Possession

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

10. Closing Costs

Closing Cost	Paid By
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

Note: No closing costs to Buyer if closing is done directly (without a title company).

11. Taxes & Assessments

The Seller is responsible for property taxes through December 31 of the year preceding closing. The Buyer is responsible for all taxes, assessments, dues, and utility charges from the current calendar year onward. Under the Terms Contract, the Seller pays annual taxes and the Buyer reimburses the Seller. Failure to reimburse within 60 days of the due date voids the contract, and the remaining balance becomes due within 30 days.

12. Late Payments & Default (Terms Contract)

A 5-day grace period applies to monthly payments. Payments not received within this period incur a $25 late fee.
If payment is 35 days past due, the Seller may take back possession and will notify the Buyer by email.
The Buyer then has 30 days to bring payments current. Failure to do so results in foreclosure, and the Buyer forfeits all payments and interest made.
Upon default, the Seller may also increase the interest rate by 5 percentage points.
The Buyer must maintain a valid email address on file for default notifications.

13. Default (Both Contracts)

If the Buyer defaults, the Seller may enforce specific performance or terminate the contract and retain the earnest money as liquidated damages. If the Seller defaults, the Buyer may enforce specific performance or terminate the contract and receive a full refund of the earnest money.

14. Property Restrictions (Terms Contract)

Until the purchase price is paid in full, the Seller retains the right to:

Limit timber removal to only what is necessary for placing a dwelling or structure.
Approve or deny any proposed improvements, additions, or alterations to the property.

The Buyer must comply with all applicable local, county, state, and federal zoning laws, building codes, and ordinances.

15. Attorney’s Fees

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

16. Representations

The Seller represents that at closing there will be no unsatisfied liens, assessments, or security interests against the property. All representations survive closing. If any representation is found untrue at closing, the Buyer may terminate the contract and receive a full earnest money refund.

17. Federal Tax Requirement

If the Seller is classified as a “foreign person” under applicable law, the Buyer shall withhold the appropriate amount from the sale proceeds and remit it to the IRS with the required forms.

18. Notices

All notices between parties must be in writing and are effective upon mailing or hand-delivery (or fax, under the Terms Contract).

19. Assignment

The Buyer may not assign this agreement without the Seller’s consent. The Seller may assign this agreement freely. This agreement is binding upon the heirs and assigns of all parties.

20. No Broker or Agents

This is a direct sale. Neither party has engaged a real estate broker or agent. If any party has employed an agent, that party is solely responsible for all related expenses outside of closing.

21. Eminent Domain

If the property is condemned by eminent domain after the effective date, the parties shall mutually agree to continue, partially continue, or cancel the transaction. If no agreement can be reached, the Buyer is entitled to cancel and receive the down payment refunded.

22. Entire Agreement

This contract represents the entire agreement between the parties. No oral statements, warranties, or representations outside this written document are binding. The contract may only be modified by written mutual consent.

23. Governing Law

This contract is governed by the laws of the State of Georgia. Time is of the essence in the performance of this agreement.

Generated for Land Mason | All Out Ventures, LLC — This document is a summary of the Cash and Terms Purchase Contracts. The original executed contracts remain the legally binding instruments.

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