With CloverFarm’s cash guarantee, you can convert your offer to a ‘cash offer’, backed by a CloverFarm. Your offer is then guaranteed to close on the date agreed upon with the seller. This can strengthen your position as a buyer by allowing you to remove financing, appraisal and sale contingencies from your offer!
Here’s how it works and some FAQs:
- What does the service cost? There is a 1% fee for CloverFarm to back your offer with a cash guarantee. There is an additional 1% fee if your financing doesn’t close as planned and you need to rent the property from CloverFarm.
- Are any fees charged up-front? No. Fees are charged upon your accepted offer & acceptable inspection. They are due on the date of the original closing.
- Is an inspection required? Yes. An inspection is required to make sure property is structurally sound & safe.
- I’m already working with a Real Estate Agent. Perfect! We are not a Real Estate Agent and nothing changes with your relationship with your agent or their commission.
- What if my financing closes as planned? That’s the goal! Then you only pay the 1% fee at closing.
- What if I am unable to purchase within 180 days? We may list the home for sale at that point and you would forfeit any rent paid as well as the fees paid to CloverFarm.
- Is an inspection required? Yes. An inspection is required to make sure property is structurally sound & safe.
- Are their geographic restrictions? Yes. The program is currently available in South Dakota.
- When can I move in? As soon as either you or CloverFarm closes on the purchase.
- How much would I pay for rent if I need to rent for a time? We charge 1% of the purchase price monthly for rent, which is prorated per day. Ex: $300,000 purchase price = $3000/mo.
More Questions? Call/Text Brent at (605) 400-9541.
