Tycoon Capital LLC / Tycoon Terrain

Purchase Terms of Use

Tycoon Capital LLC | tycoonterrain.com

500 Westover Dr #32213, Sanford, NC 27330

Phone: (801) 247-0812 | Email: tycooncapital25@gmail.com

These Purchase Terms of Use apply to all land purchases made through Tycoon Capital LLC and Tycoon Terrain, whether paid in full at closing (Cash Purchase) or financed through Seller-provided owner financing (Terms Purchase). By submitting a down payment or executing a purchase agreement with Tycoon Capital LLC, the Buyer agrees to the terms outlined below.

How the Purchase Process Works

Once a Buyer makes a down payment, Tycoon Capital LLC prepares the applicable purchase documents, which may include a Land Sale Contract, Promissory Note, and Purchase and Sale Agreement, depending on whether the purchase is a Cash Purchase or a Terms Purchase.

Buyers should review all information in the document package for accuracy. If any information needs correction, contact Tycoon Capital LLC at (801) 247-0812.
Buyers complete electronic signatures and initials as instructed within the signing platform.
For Terms Purchases, the first payment is generally due approximately 30 days from the contract date, payable by check or credit card. Tycoon Capital LLC will email an auto-payment link for setting up the recurring monthly payment and any applicable one-time note set-up fee.
Once the property is paid in full, Tycoon Capital LLC will issue a Special Warranty Deed for the Buyer’s review and approval prior to recording the deed in the Buyer’s name.

Plain Language Overview

The following overview is provided to help Buyers understand the general structure of the purchase documents. It is not legal advice. Buyers are encouraged to consult an attorney regarding any of the legal documents referenced in these Purchase Terms of Use.

Agreement for the Sale and Purchase of Real Estate

This agreement sets out the terms and conditions both Buyer and Seller agree to, including the purchase price, financing terms (if applicable), receipt of the down payment, and the Seller’s written guarantee. This agreement protects both parties by documenting the terms clearly.

Promissory Note (Terms Purchases Only)

For financed purchases, the Buyer agrees to make the specified monthly payment on time each month. There is no prepayment penalty, and Buyers are encouraged to pay more than the minimum when possible to reduce the principal balance and total interest paid faster. Late or missed payments result in additional fees, and continued non-payment may result in a certified notice giving the Buyer 30 days to bring the account current before the contract is terminated and the property is re-listed for sale. Buyers experiencing payment difficulty are encouraged to contact Tycoon Capital LLC to discuss options.

Payments (Terms Purchases Only)

Payments are due 30 days from the contract date, and Tycoon Capital LLC will email an invoice with a credit card payment link. Late payments are subject to additional fees. If the Buyer sells the property before the balance is paid in full, the remaining balance is still owed to Tycoon Capital LLC. Buyers are responsible for reimbursing property taxes, either annually or through monthly billing, as elected by the Buyer.

Land Contract (Terms Purchases Only)

If payments are not made, Tycoon Capital LLC will provide 30 days’ written notice before exercising the right to take back the property without court proceedings. Buyers may not dispose of environmentally hazardous waste on the property.

Summary: Making minimum monthly payments on time keeps a Terms Purchase in good standing. Missed payments can lead to default proceedings, which may affect the Buyer’s credit. Buyers who no longer wish to keep their property are encouraged to contact Tycoon Capital LLC directly to discuss available options before default proceedings begin.

Tax Reporting: As part of the closing process, Tycoon Capital LLC may need to collect the Buyer’s Social Security Number for tax reporting purposes. For the Buyer’s security, this information is collected by phone rather than through email or written documents.

Cash Purchase Summary

This contract is not contingent on financing. The Buyer pays the full purchase price, less any down payment already submitted, at closing.

Purchase Price	[To be specified per transaction]
Down Payment Money	[To be specified per transaction]
Balance Due	[To be specified per transaction]
One-Time Processing Fee (due at signing)	[To be specified per transaction]
Financing Type	Cash Sale, not contingent on financing

This property is covered by a 90-Day Satisfaction Guarantee as described under Our Guarantee below.

Terms (Owner Financing) Purchase Summary

Under a Terms Purchase, Tycoon Capital LLC provides owner financing for the purchase price, secured by a Promissory Note and a Land Contract on the property.

Purchase Price	[To be specified per transaction]
Down Payment Money	[To be specified per transaction]
Total Amount Financed (plus interest)	[To be specified per transaction]
Monthly Payment Amount	[To be specified per transaction]
Note Servicing Fee (included in monthly payment)	[To be specified per transaction]
Estimated Monthly Property Tax Portion	[To be specified per transaction]
Interest Rate (simple interest, per annum)	[To be specified per transaction]
Loan Term	[To be specified per transaction] months
First Payment Due Date	Approximately 30 days from contract date
One-Time Processing / Note Set-Up Fee (due at signing)	[To be specified per transaction]

Promissory Note Terms

Payment. Borrower will pay Lender the agreed number of monthly principal and interest payments, plus the Note Servicing Fee and the estimated property tax portion, for a combined total monthly payment, beginning on the agreed first payment date. Interest is calculated on the unpaid principal balance at the agreed annual rate. The final payment will cover all remaining principal and accrued interest. Unless otherwise agreed or required by law, payments are applied first to accrued unpaid interest, then to late charges, then to principal.
Default Rate. Upon default, including failure to pay at final maturity, the Lender may increase the interest rate on the Note by five (5) percentage points (the “Default Rate”). The Default Rate supersedes the original rate even if the default is later cured.
Prepayment. The Borrower may prepay the Note in whole or in part at any time with no prepayment penalty.
Late Charge. A payment that is five (5) or more calendar days late is subject to an additional late charge, on top of the regularly scheduled payment and any other amounts owed.
Default. Any of the following constitutes an event of default under the Note: (a) Borrower fails to make any payment when due; (b) Borrower fails to comply with any material term of any related agreement, including the Purchase and Sale Agreement, Promissory Note, or Land Contract; (c) Borrower defaults on any loan with another creditor that may materially affect the property securing this Note; or (d) any statement made to the Lender in connection with this loan was false when made.

Cure period: If a default other than non-payment is curable, and the Borrower has not received notice of breach of the same provision within the preceding twelve (12) months, the Borrower may cure the default by (1) curing it within fifteen (15) days of written notice, or (2) if the cure requires more time, promptly beginning and diligently completing the necessary steps, not to exceed thirty (30) days total for non-monetary defaults.

This Note is secured by a Land Contract dated the same date. If the Borrower defaults on any payment, fails to perform any covenant in the Land Contract, becomes insolvent, or makes a general assignment for the benefit of creditors, the unpaid principal balance and accrued interest may, at the Lender’s option, become immediately due and payable. The same applies if there is any sale, transfer, or other disposition of the property securing this Note prior to full repayment.

The Borrower agrees to pay all collection costs, including reasonable attorney’s fees. Jurisdiction and venue for any dispute arising under the Note will be in the state and federal courts located in the Lender’s court of choice. The Borrower waives presentment for payment, demand, notice, protest, and notice of protest, and waives defenses based on any extension of time for payment granted by the Lender.

Land Sale Contract Terms

The Seller warrants the Property to be free of all liens, with taxes current, and available to the Buyer as of the contract’s effective date.
The Seller may limit the amount of timber removed from the property to only the area needed for a dwelling or structure, until the property is paid in full.
The Seller holds the Title (Warranty Deed) until the Property is paid in full, and warrants the title will remain free of loans, liens, or encumbrances during the payment period.
At the time of title transfer, the Seller will provide the Buyer with a marketable title.
The Seller pays property taxes each year, and the Buyer reimburses the Seller. If the Buyer fails to reimburse the Seller for accrued taxes within sixty (60) days of the date due, the Contract becomes void and the remaining balance owed on the Property becomes due within thirty (30) days.
The Seller will notify the Buyer by email if the Buyer is in default. Buyers must keep a valid email address on file with Tycoon Capital LLC.
The Seller allows a five (5) day grace period for monthly payments. If payment is not received within the grace period, a penalty is assessed.
If the Buyer is more than thirty-five (35) days late on a monthly payment, the Seller may notify the Buyer by email of default and reserves the right to take back possession of the Property. The Buyer then has thirty (30) days to bring payments current and cure the default. If full payment is not received within that period, the Property is considered foreclosed, and the Buyer forfeits all interest and payments made. In any resulting legal action, the losing party is responsible for all costs and legal fees associated with that action.
There is no prepayment penalty. The Note may be paid off at any time, with only the interest accrued to the date of payoff assessed.
Upon full payoff, the Seller will record a Special Warranty Deed to the property in the county and state where the property is located, within thirty (30) days of payoff.

This instrument becomes binding once the Buyer signs it, accepting the offer subject to these Land Sale Contract terms as a legal and binding contract.

General Purchase Agreement Terms

The following terms apply to all purchases of vacant residential land through Tycoon Capital LLC, whether Cash or Terms purchases. THIS AGREEMENT HAS SUBSTANTIAL LEGAL CONSEQUENCES. BUYERS ARE ADVISED TO CONSULT LEGAL AND TAX COUNSEL.

1. Agreement to Sale and Purchase

Seller agrees to sell, and Buyer agrees to buy, the property described by the Parcel ID and Legal Description provided in the Buyer’s individual purchase documents (collectively, the “Property”).

2. Sales Price

The Purchase Price, Down Payment Money, and (for financed purchases) the financing terms are set out in the Cash Purchase Summary or Terms Purchase Summary above, as applicable to the Buyer’s transaction.

3. Financing

Cash purchases are not contingent on financing. Terms purchases are financed by Tycoon Capital LLC pursuant to a Promissory Note and Land Contract as described above.

4. Down Payment Money

The Buyer’s down payment is deposited with Tycoon Capital LLC. A one-time processing fee, as specified in the Buyer’s purchase summary, is due at signing.

5. Property Condition

The Buyer represents that they have personally inspected and examined the Property and accepts it in its “as-is” and present condition. The Property is covered by a 90-Day Satisfaction Guarantee as described under Our Guarantee below.

6. Utilities and Environmental Disclosures

The Buyer accepts the present condition of all utility access to the Property. The Seller is not aware of any wetlands, shoreland, or flood plain affecting the Property except as disclosed in the Buyer’s purchase documents. The Seller knows of no hazardous substances or petroleum products placed, stored, or released on the Property in violation of law, and no underground storage tanks on the Property, except as disclosed in the Buyer’s purchase documents.

7. Closing

The closing of the sale will occur on or before the date specified in the Buyer’s purchase documents, unless extended under the terms of this agreement. Closing may be extended up to seven (7) days after any title objections disclosed in the title abstract, certificate, or commitment, or by survey, have been resolved. The closing date may also be extended by written agreement of the parties.

8. Title and Conveyance

The Seller will convey title to the Buyer by Warranty Deed. Prior to or at closing, the Seller will satisfy all outstanding mortgages, deeds of trust, and special liens affecting the Property that are not specifically assumed by the Buyer. Title will be good and marketable, subject only to: (a) covenants, conditions, and restrictions of record; (b) public and private utility easements and roads and rights-of-way; (c) applicable zoning ordinances, protective covenants, and prior mineral reservations; (d) special and other assessments on the Property, if any; and (e) general taxes for the current year and subsequent years.

A title report is not provided to the Buyer at closing. The Buyer may conduct their own title search at their own expense. If title defects exist, the Seller will notify the Buyer within five (5) days of closing, and the Buyer may: (a) cancel this contract and receive a refund of all earnest money or down payment monies deposited, if the defects cannot be cured by the closing date; (b) accept title as-is; or (c) allow the Seller a reasonable additional time to perform curative work at the Seller’s expense, with the closing date extended accordingly. The Seller represents that the Property may be legally used as zoned and that no government agency has required repairs, alterations, or corrections to any existing condition, except as disclosed.

9. Appraisal, Survey, and Inspection

Any appraisal of the Property is the Buyer’s responsibility. A survey is not required.

10. Possession and Title

Prior to closing, the Property remains in the possession of the Seller.

11. Closing Costs and Expenses

If the sale is closed through a title company, closing costs are allocated as follows. There is no cost to the Buyer when closing directly through Tycoon Capital LLC.

Closing Cost	Buyer	Seller	Both*
Attorney Fees / Title Company Fees	X
Title Insurance	X
Title Abstract or Certificate	X
Recording Fees		X
Appraisal	X
Survey	X
Transfer Taxes		X
All Other Closing Costs	X

*Items marked “Both” are split 50/50 between Buyer and Seller.

12. Prorations

Taxes for the current year, interest, maintenance fees, assessments, dues, and rents (if any) will be prorated through the Closing Date. If the current year’s taxes differ from the amount prorated at closing, the parties will adjust the prorations once tax statements for the year become available.

13. Default

If the Buyer fails to comply with this contract, the Buyer is in default, and the Seller may either (a) enforce specific performance or seek other relief available by law, or both, or (b) terminate the contract and retain the earnest money as liquidated damages, releasing both parties from the contract.

If, due to factors beyond the Seller’s control, the Seller cannot make required non-casualty repairs or deliver evidence of clean title within the allowed time, the Buyer may either (a) extend the time for performance up to fifteen (15) days, with the Closing Date extended accordingly, or (b) terminate the contract as the sole remedy and receive a refund of the earnest money.

If the Seller fails to comply with this contract for any other reason, the Seller is in default, and the Buyer may either (a) enforce specific performance or seek other relief available by law, or both, or (b) terminate the contract and receive the earnest money, releasing both parties from the contract.

14. Attorney’s Fees

The prevailing party in any legal proceeding brought under or related to this contract is entitled to recover from the non-prevailing party all costs of the proceeding and reasonable attorney’s fees.

15. Representations

The Seller represents that as of the Closing Date: (a) there will be no liens, assessments, or security interests against the Property that will not be satisfied from sale proceeds, unless securing payment of loans assumed by the Buyer; and (b) any assumed loans will not be in default. If any representation in this contract is untrue on the Closing Date, the Buyer may terminate the contract and receive a refund of the earnest money. All representations survive closing.

16. Federal Tax Requirement

If the Seller is a “foreign person” as defined by applicable law, or fails to deliver an affidavit confirming otherwise, the Buyer must withhold from the sale proceeds an amount sufficient to comply with applicable tax law and deliver it to the Internal Revenue Service with the appropriate tax forms. IRS regulations require written reports if cash in excess of specified amounts is received in the transaction.

17. Agreement of Parties

This contract contains the entire agreement of the parties and cannot be changed except by their written agreement.

18. Notices

All notices between the parties must be in writing and are effective when mailed to, hand-delivered at, or transmitted by facsimile to the addresses on file for each party. Notices to the Seller should be sent to:

Tycoon Capital LLC

500 Westover Dr #32213, Sanford, NC 27330

Phone: (801) 247-0812 Email: tycooncapital25@gmail.com

19. Assignment

This agreement may not be assigned by the Buyer without the Seller’s consent. The Seller may assign this agreement, which is binding on the heirs and assigns of both parties.

20. Prior Agreements

This contract incorporates all prior agreements between the parties, contains the entire and final agreement, and cannot be changed except by written consent of both parties. Neither party has relied on any statement or representation not contained in this contract. Each party acknowledges having read and understood this contract. Its provisions bind the heirs, executors, administrators, successors, and assigns of both parties. As used herein, the singular includes the plural and the masculine includes the feminine, as context requires.

21. No Broker or Agents

The parties represent that neither has employed a real estate broker or agent in connection with the Property. If such an agent has been employed, the party employing the agent is responsible for all related expenses outside of closing.

22. Eminent Domain

If the Property is condemned by eminent domain after the effective date of this agreement, the Seller and Buyer will agree to continue the closing, in whole or in part, or cancel the contract. If the parties cannot agree, the contract remains valid, with the Buyer entitled to cancel and receive a refund of the down payment money.

23. Recording

This agreement may be recorded in the official records of the county and state where the Property is located.

24. Other Provisions — Our Guarantee

Tycoon Capital LLC provides Buyers an additional inspection period of ninety (90) days from the date of the down payment. If, for any reason, the Buyer is unsatisfied with the Property during this period, Tycoon Capital LLC will either exchange the property for another available property, or refund all monies paid, minus closing costs, payment processing fees, and accounting set-up fees.

TIME IS OF THE ESSENCE IN THE PERFORMANCE OF THIS AGREEMENT.

Governing Law: This agreement is governed by the laws of the State of North Carolina.

Receipt of Funds

Receipt of down payment money and any applicable document preparation or processing fees will be acknowledged in writing as part of the Buyer’s individual purchase documents.

Questions

If you have questions about these Purchase Terms of Use, your purchase documents, or your account, contact Tycoon Capital LLC at (801) 247-0812 or tyleracoongmail.com.

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