Procedure for making offers for smaller parcels

While the owners prefer to sell each tract of property in its entirety, they recognize that some properties will have appeal to both developers, builders and/or individuals. With this in mind, contingency contracts for partial properties will be considered. The following is subject to legal review, but outlines the general proposed procedure.

  1. Contracts will contain verbiage such as the following:
    • Buyer understands that the property described is a part of a larger tract and that the owner's intent is to sell the entire tract.
    • No closing for a smaller portion will occur until contracts have been achieved and deposits placed for the entire tract.
    • All parties acknowledge that the owners may, at their option, cancel this agreement in the event of receipt of a bonafide purchase agreement for the entire tract. In this event:
      • any deposits received would be returned to the purchaser
      • prospective buyer's names will be provided to the developer or builder as a courtesy
      • the owners make no guarantee on the part of the developer's actions relative to commitment, deed restrictions, lot sizes, pricing, etc.
  2. Offers with deposits of at least 10% of the sales price are to be submitted through the buyer's agent to Mary Kay Hopkins, LLC.
  3. Closings would occur simultaneously.
  4. Surveys, title opinion, and other typical closing cost are the responsibility of the buyer.
  5. Individual abstracts will not be provided. If a base abstract is available, it will be loaned to the buyer's attorney for use in examining title.
  6. Offers must be in writing and will be dealt with on a first-come, first serve basis, with all offers submitted to the owners for consideration.
  7. To assure buyers that certain integrities will be maintained, deed restrictions will be developed for the entire tract and inserted into the purchase agreement and deed.
The contingency contracts would outline location, dimensions, price, closing date, and other typical contract verbiage.
 
Mary Kay Hopkins, LLC 120 South Ryan Street Lake Charles, LA 70601

337-439-1079 e-mail: mkh@mkh.com

Feel free to call Mary Kay Hopkins with questions, but understand that
Mary Kay Hopkins, LLC solely represents the current owners.
For buyer representation, contact your personal REALTORĀ®.

Photo Credits: Fotolia.com and Mary Kay Hopkins
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