The following policies are applicable to all payment plans and buyers who purchase a payment through Discount Lots. These policies are subject to change at any time and may be reconsidered on a case by case basis for individual customers.
Your contract must be signed within 14 days of purchasing your property. If you do not sign your contract in that amount of time OR have been granted an extension, then we will cancel your contract and place the property back up for sale. You should receive your contract within 48 business hours of making your purchase in most cases.
Multiple Lot Policy
A household may only have up to one property under payment plan at any given time. For each additional property, larger down payments will be required. You may purchase additional property at the full cash price or purchase additional properties after you have fully paid off your contract via a payment plan. Otherwise, you may only make payments on up to two properties at a time.
We want to clarify that the $300 charged at checkout is allocated for document fees and creation, and unfortunately, refunds for this fee cannot be provided after purchase. We strongly advise conducting thorough due diligence prior to finalizing your property purchase. You're encouraged to visit the property in person and undertake all necessary investigations, inspections, and inquiries to ensure it aligns with your requirements. Kindly verify any property-related details, restrictions, zoning regulations, or HOA information with the relevant county and associations. Please note that all paid payments are also non-refundable.
We operate on a first-come, first-served basis, and we have various purchase options available. To explore these options, kindly connect with your assigned sales representative, who will be happy to assist you in finding the right choice for your needs.
Defaulted Payments Transfer Program
If a buyer defaults on a property, Discount Lots allows the defaulted buyer to transfer their property payments (excluding escrow and other fees) from the defaulted property to another property that is available for sale from Discount Lots website. To take advantage of this program, there will be a one time fee of $495 for document and processing fees and the first month payment is required on the new property at the time of transfer. The Defaulted Payments Transfer Program is available for 24 months following a default for any contract.
To take advantage of this program, there will be a one-time fee of $495 for document and processing fees, and the first-month payment is required on the new property at the time of transfer.
This equity transfer program is available for 24 months following a default for any contract. We know that times can get tough and we want to treat our buyers how we would want to be treated.
Property Switching Policy
At Discount Lots, we're dedicated to helping our customers find their dream property. We offer a property switching option to ensure your satisfaction. Within 14 days of purchase, you can switch properties for free. After this window, a $300 switching fee applies. Please note that customers are responsible for due diligence with county and HOA regulations if applicable, and no refunds can be provided.
To switch properties, please reach out to our Customer Support with your original purchase details and reasons for the switch. We'll verify the availability of your desired property. Upon approval, you'll sign a switching agreement and other necessary documents. Contract payments must be current, and, all property taxes and HOA payments if applicable should be up to date.
We encourage all buyers to refer their friends and family members to Discount Lots! For any person you refer, make sure they enter your name at checkout. Once they have made 4 monthly payments towards their property (the initial down payment does not count towards this), you will get one month off the end of your contract.
Property Taxes and HOA Fees
According to the terms outlined in our agreement, the buyer assumes the responsibility for property taxes and HOA fees. However, Discount Lots has introduced a new option wherein these amounts can be included in your monthly payments. Should you opt for this choice, we will handle the payment of these expenses on your behalf.
In the event that the property receives a citation from a regulatory authority after the agreement is signed, the buyer is obligated to bear the expenses and make all necessary changes to bring the parcel into compliance. Failure to comply within 30 days may result in default. If the buyer is unable or unwilling to undertake the required corrective measures, the seller has the right to perform such activities and the buyer agrees to reimburse all costs associated with bringing the property into compliance, including any management or legal fees incurred by the seller in enforcing this provision.
SPECIAL NOTE FOR BUYERS IN CALIFORNIA: Many vacant parcels of land are being used as unlicensed growing facilities for Cannabis. This is in violation of California law and will be cited if, and when, the relevant authorities are made aware. Exercise vigilance with your property. Clean up of Cannabis farms is very costly.
ALL PROPERTIES ARE SOLD AS IS, WHERE IS. Buyer is responsible for conducting sufficient due diligence regarding the suitability for Buyer’s intended improvement and use, including, but not limited to county, city, or other municipality code requirements and building regulations.
NO REPRESENTATIONS OR WARRANTIES: Buyer understands and acknowledges that, except as expressly set forth in the contract, Discount Lots, LLC makes no representations representations and warranties, express or implied, made to Buyer or any other person, including, without limitation, any warranties regarding the quality, suitability, merchantability, fitness for a particular purpose or otherwise (irrespective of any course of dealing, custom or usage of trade), of any property. Seller disclaims any warranty of title or non-infringement except as otherwise set forth in this Agreement.