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March 27 2017


What People Should Consider Before Buying a Ranch

In most areas, if a person has chosen the price advised by the notary, certain expenses are paid for. For instance, the expertise, the visit, and the advertising are free if the hunting property for sale does not sell. If it is sold, the seller will have to pay a fee pertaining to the costs of the sale. This percentage, which ranges from 2 to 3 percent, may have declining rates beyond certain tranches specified in the contract. In practice, this contribution is generally charged to the buyer.

The seller is not obliged to go to the auction sale since the notary will be present. It is, however, an intense moment, which may be interesting to attend. The potential purchasers must, a few minutes before the opening of the auction, give the notary a deposit check, in return for a badge that will give them the possibility of bidding. The check will be returned immediately after the sale to those who have not won the auction. The contractor, on the other hand, will cash their check and its amount is charged against the selling price.

What if a hunting property does not sell? There is a possibility that the property does not get sold at an auction. In this case, people can either make new bids, offer a lower price, or go back to a more conventional way of selling. People can then, if they wish, entrust his or her notary with a negotiating mandate. When it comes to SATP, he or she will find a buyer and negotiate the sale price with them. Be aware that their fees, are borne by the buyer and can be negotiated.


After the sale, the buyer has 45 days to pay whatever he owes the seller. But he or she will not do so until the 11th day. This is because, during the 10 days following the sale, a bidding war can be proposed (unless the seller excludes this possibility in the specifications). A new sale must then be organized, with a bid price higher than 10% at the auction price (count again 2 months). If no overbidding occurs within 10 days, the seller must pay the buyer: the buyer does not benefit from a suspensive clause (for obtaining a credit for example), nor the right of withdrawal of the waiting period. Once the buyer has paid, the keys are handed to the buyer and their notary carries out the usual formalities (land registration, etc.).

Pre-sale costs charged to the buyer (organization, advertising, expertise, etc.) must be specified in a contractual clause. This one is made available to the buyers 3 weeks before the sale. For more information, visit www.sportsafieldtrophyproperties.com today.

Don't be the product, buy the product!