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 buyer may only have up to three properties under payment plan at any given time. 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 three properties at a time.
At Discount Lots, we want you to have the property of your dreams. This is why we allow payment plan buyers to switch to another property if they would like during their contract. When you switch, all money paid towards the original property will be credited towards the new property's contract (excluding the document fee and any late fees). You cannot switch your money to another property already under contract or move the money paid to multiple properties to a single one. Switches are one to one.
Your first switch if it occurs within 14 days of your initial purchase is "free" meaning you do not have to pay an additional document fee. After that, you may switch or switch again, however, you will need to pay a $300 document fee for each time.
We cannot process any lot switches unless your account is current.
We understand that sometimes circumstances change and you may no longer be able to pay for the property that you are under contract on. As stated in our contract, you may default at any time with no penalty to you the buyer. However, you are not entitled to a refund of money paid towards that property.
When you default, we will sum all payments made (excluding document fee and any late fees). That total can then be applied to a future purchase pending approval. You cannot transfer the balance paid to a property you are already under contract for. Additionally, you may only credit the payments from a SINGLE property to a new property. We will total your payments by property and not the total you have paid across all properties.
All defaulted buyers are subject to approval for future purchases based on buyers history, no guarantee new purchase will be approved.
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
As stated in our contract, property taxes and HOA fees are the responsibility of the buyer. Discount Lots may pay these on the buyer's behalf at which point you may pay us back right away or have the total added to the end of your contract.
In the event that the property is issued a citation by an appropriate regulatory authority AFTER this agreement is signed, the Buyer agrees to make any and all changes necessary to bring the parcel into compliance solely at the Buyer’s own expense. If the Buyer is not able to or willing to perform necessary corrective measures to bring the parcel into compliance, then the Seller will perform such activities as necessary and Buyer agrees to reimburse to the Seller all costs associated with bringing the parcel into compliance in addition to any management or legal fees incurred by the Seller for the purposes of 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.