Guaranteed Offer Program
Effective Date: January 21, 2022
By using this site, you understand and acknowledge (a) that the Company is not providing real estate, legal, financial, or other advice or expertise, and (b) that you may not rely on any information on this website as advice.
The Company is licensed with the Oregon Real Estate Agency, License No.201224007, and with the Washington Department of Licensing, License No. 20605. The Company’s Oregon and Washington designated principal broker is Alicia Smith (Oregon Real Estate License No. 201211616 and Washington Department of Licensing No. 27268). The managing broker for Oregon and Washington is Jordan Matin (Oregon Real Estate License No. 200707018 and Washington Department of Licensing No. 25401).
Cash Is King is a registered business name in Oregon of Matin Real Estate, LLC.
The Company is not a mortgage broker or lender, or mortgage loan originator, under the Oregon Mortgage Lenders Law or Washington Mortgage Broker Practices Act or the Washington Consumer Loan Act. The Company and its associated real estate brokers do not aid or assist buyers/sellers/borrowers with obtaining loans, nor do they negotiate or make loans secured or unsecured by real or personal property.
Although Company is licensed with the Oregon Real Estate Agency and the Washington Department of Licensing, neither Company nor any of its affiliated real estate brokers represents, nor shall they represent the seller of any real property that is purchased as part of a Cash Is King guaranteed offer or cash offer unless and until the parties enter into a separate, written listing agreement.
ALL PARTIES HAVE BEEN ADVISED TO SEEK THEIR OWN LEGAL COUNSEL. In the event of any conflict between these Guaranteed Offer Terms and any listing agreement or real estate purchase agreement, the terms of the listing agreement and real estate purchase agreement shall prevail.
The buyer of any real property purchased through these Websites may be a licensed real estate broker associated with Company or it may be a third-party buyer arranged through Company. The name of the buyer will be disclosed on the real estate purchase agreement between the parties.
The parties referred to in this Agreement shall be defined as follows:
- Company, Us, We: The Company, as the creator, operator, and publisher of the Websites, makes the Websites, and certain Services on it, available to users. Matin Real Estate, LLC dba Cash Is King, Company, Us, We, Our, Ours and other first-person pronouns will refer to the Company, as well as all employees and affiliates of the Company.
- You, the User, the Client: You, as the user of the Websites, will be referred to throughout this Agreement with second-person pronouns such as You, Your, Yours, or as User or Client.
- Parties: Collectively, the parties to this Agreement (the Company and You) will be referred to as Parties.
3. PROFESSIONAL REAL ESTATE ADVISORS:
The material contained on this site is offered as information only and not as financial, accounting, legal or other professional advice. Users of this site should contact their own professional advisors for such advice. You agree and understand that Your choice to deal with any member or affiliate of this site is done at Your discretion and risk, and You will be solely responsible for such dealings. In no event shall Company be liable for any direct, indirect, incidental, punitive or consequential damages of any kind whatsoever with respect to Your dealings with investors, members or affiliates of this site.
4. GUARANTEED OFFER PROCESS AND SPECIAL TERMS:
The following provisions apply specifically to the “guaranteed offer” program identified on this website (the “Guaranteed Offer Program”). The Company does not guaranty that You will receive an immediate or simultaneous offer, nor does the Company guaranty that Your guaranteed offer (the “Guaranteed Offer”) will be at or above what generally may be considered fair market value. Each circumstance and property are different.
In making You an offer under the Guaranteed Offer Program, the Company is not acting as Your real estate agent or broker. The Company is merely acting as, or on behalf of, a purchaser of real estate. As a seller, You have the right, and it is Your responsibility, to independently evaluate and decide whether to accept the Guaranteed Offer.
1. Guaranteed Offer Program process overview:
Step 1 Request an offer, complete the application, and sign the Exclusive Right to Solicit Offers agreement - no showings or other prep work required.
Step 2 Get Your cash offer and market analysis typically within 72 hours. This time frame is not a guaranty and may be more or less at the discretion of the Company.
Step 3 Schedule Your closing and move dates.
2. Restrictions for those who want to receive an offer:
No offers may be made to those who:
- Do not own the Property or have the legal right to sell the Property.
- Are not 18 or the age of legal consent in the state in which the Property is located.
- Are not otherwise legally competent to sell the Property.
- Are determined by the Company, at Company’s sole and absolute discretion, to not have a property that qualifies for the program.
- Are determined by the Company to not be a qualifying seller, at the Company’s sole and absolute discretion, such as the seller being barred by state or federal regulatory action or the seller having been involved with fraudulent action or a scheme or artifice to defraud.
Additionally, no offers may be made for:
- Bare land.
- Commercial properties.
- Agricultural properties.
- Residential properties with fair market values approximating $1,000,000.00 or more.
- Properties that are actively listed or in withdrawn status with any real estate broker/agent, or for properties under which a real estate broker/agent has or may make a claim for any compensation, however denoted.
- Any properties for which the Company elects to refrain from making an offer, at the Company’s sole and absolute discretion. Notwithstanding the foregoing, the Company may, on occasion elect to make an offer for properties that are otherwise identified in this subsection.
3. The Company reserves the right to refrain from making an offer for some properties, in the Company’s sole and absolute discretion and with or without cause, e.g., in the event the Company determines that a Property or applicant does not qualify under these Guaranteed Offer Terms. The Company will endeavor to provide You with notification of its election to refrain from providing an offer within three (3) days of the Company’s election.
5. If You elect to request an offer, You agree to complete and sign the Company’s Exclusive Right to Solicit Offers Agreement, which provides in part that You may obtain offers for a higher price or better terms, or what may be considered fair market value, by traditionally listing the property for sale through public marketing efforts; that the Company has advised You to traditionally list the property for sale, and that the price You received may, and likely will be less than what You may be able to obtain by traditionally listing and publicly marketing the Property.
6. Any offers will be processed through the Company, but the ultimate buyer may be the Company or a third-party buyer.
7. As of the date of these Guaranteed Offer Terms, the Guaranteed Offer Program only applies for real properties located in the states of Oregon and Washington.
8. Once a request for an offer is submitted, we will typically send You an email within three (3) days (this is not guaranteed) notifying You of whether we wish to make an offer for Your property and requesting that You sign an acknowledgment confirming that You have been advised to traditionally list the property for sale and that You may and likely will receive an offer or offers for less than what may be considered fair market value. You will not be under any obligation to accept any offers, and the Company is under no obligation to make an offer. Offers generally expire 48 hours after receipt, regardless of whether or when You open the email. Each offer will identify its actual expiration date. We also reserve the right to revoke any offer at our discretion, prior to it being accepted, by notifying You of the revocation by an e-mail which shall be deemed delivered at the time sent by the Company to Your e-mail address. Once an offer expires or is revoked, You will not be able to accept the offer.
9. Purchase price, costs, and fees:
- If the Company elects to make an offer for Your property, the offer will identify the purchase price that the Company or a third-party are willing to pay and the credits that will be deducted from that price at closing, as set forth in the offer.
- The offer(s) will be based in the information You provided, and each offer may be revised based in the event the property is not consistent with Your description of the property or if Your application is otherwise incomplete or inaccurate.
- No offer will be binding on Your or the Company or any third-party purchaser unless and until the parties have signed and entered into a purchase and sale agreement.
10. Commission. You will be obligated to provide payment to the Company of a three percent (3%) sales commission, which shall be deducted from the purchase price (the “Commission”). You will be responsible for any other real estate commissions if You have entered into listing agreements with any other companies. The Company will not agree to pay any other commissions.
11. The Company makes no representations or warranties that the purchase price of any offer will equal or exceed what would generally be considered the fair market value for the property. In fact, the purchase price may and likely will be less than what may be obtained if the property is traditionally listed for sale and publicly marketed.
12. Closing costs, taxes, and fees. You will be responsible for any title search, title insurance and escrow fees, and any other additional closing costs, in a manner customary in the state and county where the property is located, as determined by the escrow company.
13. Purchase agreement. The Guaranteed Offer Program is a solicitation to have the Company provide You with an offer but is not a contract to purchase or sell, nor is any offer to You a contract to purchase or sell. To be clear, any offer does not constitute a purchase agreement, and neither You nor the Company nor any third party will have an obligation to buy or sell the property until the parties have entered into a valid purchase agreement. Once You have reviewed and accepted the terms of an offer, You will be asked to sign a purchase agreement on a form generally used in the state in which the property is located. The closing date can be anywhere from 8 to 90 business days after Your acceptance of the offer, and You may have the option to move up to 3 days after the closing date. That information will be identified in the purchase agreement.
14. After You and the Company and/or a third-party buyer have reviewed and accepted the terms of the purchase agreement, the Company or third-party buyer will deposit the earnest money identified in the purchase agreement with an escrow company identified in the purchase agreement. The escrow company will be selected by the Company or third-party buyer. Any escrow company will be a generally accepted escrow company in the state where the property is located. The escrow agent will then send You a receipt confirming the deposit, and we will contact You to schedule Your home inspection.
15. Home inspection. A home inspection will occur prior to the closing date unless waived by the Company or third-party buyer. You will not be obligated to pay for any home inspection.
- The Company or third-party buyer may elect to purchase the property “as is” or subject to certain repairs. Either way, the Company and third-party buyer, if any, reserve the right to terminate the purchase agreement during the inspection period set forth below in their sole discretion for any discoveries made during the inspection period including, but not limited to, the condition of the house being inconsistent with Your description, or that the information provided by You is otherwise inaccurate.
- The inspection period begins the day after the purchase agreement has been signed by You and the buyer and shall continue for the period set forth in the purchase agreement, unless otherwise agreed in writing by the parties.
- The inspection will be conducted by a third-party inspector engaged by the Company or third-party buyer. You must be home during the inspection, which typically takes less than 2 hours.
- If the property is not being purchased “as is,” the Company or third-party buyer may, during the inspection period, provide to You the list of items the Company or third-party buyer determines require repair and You will have the option, within the period set forth in the purchase agreement, to elect to (1) have the items on the list repaired prior to closing (2) provide the Company or third-party buyer with an additional credit against the purchase price or (3) decline to make any requested repairs or issue a credit, in which case the Company or third-party buyer may then choose to cancel the purchase agreement or elect to proceed. If the purchase agreement is canceled, there is no penalty to either party.
- If You elect to have the items repaired, all repairs must be made by a licensed contractor and all items must be brought into compliance with applicable building codes. You will be required to provide proof of the completion of the work, including the contractors' name(s) and license number(s), before and after pictures, and receipts. Repairs must also be approved by the Company or third-party buyer during the final walk-through. Additionally, in some circumstances, the repairs required on a home may be significant and require substantial funds to complete or special expertise to manage. In these cases, rather than add unnecessary stress to our customers, the Company or third-party buyer will offer the option of a credit only.
- Whether You elect to have the items repaired or to provide the Company or third-party buyer a credit for their repair, You will be required to sign a repair credit addendum to the purchase agreement. Depending on the option that You have elected, the addendum will list the required repairs (and may provide certain additional detail, as necessary), or the credit to be provided.
16. Walk-through. One or two days prior to the closing date, the Company or third-party buyer will conduct a final walk-through to verify that the required repairs have been adequately made, and that the property is otherwise still in the same condition it was during the inspection. If the walk-through reveals that required repairs have not been adequately completed or the property is not otherwise still in the same condition it was during the inspection, additional repairs may be required and the closing may be delayed.
17. Closing. The closing date will be scheduled for the date that You selected when You accepted an offer and which is identified in the purchase agreement. If You subsequently need to change to Your closing date, You must notify us in writing as soon as reasonably possible. We will accommodate change requests, when reasonably practicable to do so as determined by us in our sole discretion. You will receive a check for the purchase price (less any agreed upon credits and any applicable fees) at closing.
18. You are responsible to leave the property in the same condition it was in during the walk-through. You are also required, as a general rule, to leave any built-in appliances and other fixtures (items that are attached in some way to the property) unless otherwise agreed in writing in the purchase agreement (including any addenda). These include (but are not limited to) Your dishwasher, built-in microwave, stove, oven, cooktops, ice machines, trash compactors, water softeners, built-in refrigerator, reverse osmosis systems, window treatments, central vacuum and central vacuum hoses, garage door openers and remotes, pool equipment, built-in barbeques, built-in fire pits, ceiling fans, light fixtures (including, but not limited to, chandeliers), pool fencing, pool cleaning systems, exterior landscape lighting and surround sound speakers.
19. Moving out. You generally will be obligated to move out of the property by the closing date. Any move-out date after the closing date will need to be identified in writing in the purchase agreement or addendum signed by all parties.
20. Final payment. The balance due to You under the purchase agreement (as may be modified during the transaction) will be paid to You, through the escrow company, on the closing date or other date identified in the purchase agreement (or addendum).
21. Before Company purchases any real property, the following must be true:
- There have been no Material Detrimental Changes to the real property since the Guaranteed Offer. “Material Detrimental Change” shall mean any change or changes to the real property subsequent to the Guaranteed Offer, regardless of its cause, that, taken individually or together, materially impact the real property’s value or habitability, as determined in Company’s reasonable, good faith sole discretion, including, but not limited to, non-minor damage to the real property; removal or modification of any major fixtures; impacts by acts of God, fire, flood, hail, wind, earthquake, war, epidemic, riot or terrorism, casualty loss; a housing market decline represented by a five percent (5%) or greater annualized decline in the seasonally adjusted Case-Shiller Real property Price Index for the region in which the real property is located measured over the most recent month for which the index is available; a stock market decline represented by a 10% or greater annualized decline in the S&P 500 Index measured from the date of the Guaranteed Offer; or in the event that Company becomes insolvent or files for bankruptcy.
- All liens and encumbrances must be paid in full or otherwise removed by You at or prior to the purchase date.
- You must have clear ownership to the real property, i.e., the real property must be in Your name, and You must have authority to sell the real property.
- Company may identify other conditions in the Real Estate Purchase Agreement at its sole and absolute discretion. You are not obligated to sell the real property unless and until You and the buyer of the real property have entered into the Real Estate Purchase Agreement.
5. GENERAL PROVISIONS: See General Terms.
Matin Real Estate, LLC dba Cash Is King
Oregon Real Estate License No.201224007
Washington Department of Licensing No. 20605
Designated Principal broker for Oregon and Washington: Alicia Smith (Oregon Real Estate License No. 201211616 and Washington License no. 27268)
Oregon: 5441 SW Macadam Ave., No. 389
Portland, OR 97239
Washington: 1220 Main Street, Ste. 400
Vancouver, WA 98660
ANY RIGHTS NOT EXPRESSLY GRANTED HEREIN ARE
RESERVED BY COMPANY.